This is delicious about Professor Paul Krugman.
The president of Estonia chewed out Paul Krugman on Wednesday, using Twitter to call the Nobel Prize-winning economist “smug, overbearing & patronizing,” in response to a short post on Estonia’s economic recovery. Krugman’s 67-word entry, entitled “Estonian Rhapsody,” questioned the merits of using Estonia as a “poster child for austerity defenders.” He included a chart that, in his words, showed “significant but still incomplete recovery” after a deep economic slump.
This paragraph packs its own, statistically-deadly punch in the direction of the New York Times columnist:
Estonia, which in 2011 became the latest country to join the eurozone, has been heralded by some as an austerity success story. That year, it clocked a faster economic growth pace than any other country in the European Union, at 7.6 percent. Estonia is also the only EU member with a budget surplus, and had the lowest public debt in 2011 — 6 percent of GDP. Fitch affirmed its A+ credit rating last week.
Update: Dan Mitchell weighs in with some damning data of his own against Krugman.