 Where was John Cassidy’s piece published?
Letter from John Cassidy Paul Krugman replies to John Cassidy Letter from M. Mitchell Waldrop Paul Krugman replies to M. Mitchell Waldrop Letter from Kenneth J. Arrow Letter from Ted C. Fishman David Warsh's July 3, 1994, Boston Globe Letter from John Cassidy: Paul Krugman loves to berate journalists for their ignorance of economics, particularly his economics, but on this occasion, I fear, his logic is more addled than usual. I am reluctant to dignify his hatchet job with a lengthy reply, but some of his claims are so defamatory that they should be addressed, if only for the record. 1) Krugman claims that my opening sentence--"In a way, Bill Gates's current troubles with the Justice Department grew out of an economics seminar that took place thirteen years ago, at Harvard's John F. Kennedy School of Government"--is "pure fiction." Perhaps so, but in that case somebody should tell this to Joel Klein, the assistant attorney general in charge of the antitrust division. It was Klein's words, not those of Arthur, that prompted me to use Arthur in the lead of the story. 2) Krugman wrote: "Cassidy's article tells the story of how Stanford Professor Brian Arthur came up with the idea of increasing returns." I wrote no such thing, and Arthur has never, to my knowledge, claimed any such thing. 3) Pace Krugman, I also did not claim that Arthur bears principal responsibility for the rediscovery of increasing returns by economists in the 1970s and 1980s. 4) Krugman appears to suggest that I made up some quotes, a charge that, if it came from a more objective source, I would consider to be a serious matter. In effect, he is accusing Brian Arthur, a man he calls a "nice guy," of being a fabricator or a liar. The quotes in question came from Arthur, and they were based on his recollections of two meetings that he attended some years ago. After Krugman's article appeared, the Santa Fe professor called me to say that he still recalled the meetings in question as I described them. "Cassidy has made it clear in earlier writing that he does not like mainstream economists, and he may have been overly eager to accept a story that puts them in a bad light," he pronounces. I presume this statement refers to a critical piece I wrote in 1996 about the direction that economic research, principally macroeconomic research, has taken over the past two decades. In response to that article, I received dozens of messages of appreciation from mainstream economists, including from two former presidents of the American Economic Association.
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