Via Casey Mulligan, Cochrane responds to Krugman’s NYT Magazine piece. What follows below is the full text of Cochrane’s response. Mulligan linked to it as a Word Document. I felt it would have more presence of the blogosphere as html. I am assuming that Cochrane would want his ideas spread to a wider audience.
How did Paul Krugman get it so Wrong?
John H. Cochrane[1]
Many friends and colleagues have asked me what I think of Paul Krugman’s New York Times Magazine article, “How did Economists get it so wrong?”
Most of all, it’s sad. Imagine this weren’t economics for a moment. Imagine this were a respected scientist turned popular writer, who says, most basically, that everything everyone has done in his field since the mid 1960s is a complete waste of time. Everything that fills its academic journals, is taught in its PhD programs, presented…
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Utopia, you are standing in it! 
Sep 09, 2014 @ 13:03:32
Casey Mulligan. What an academic. Has Cochrane fessed up yet. He did have troubles understanding accounting identities as I recall.
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