While some economies are crashing, the celebrity of some economists is booming. One of these celebrated economists is Martin Wolf, the chief economics commentator at the Financial Times and surely one of the world's most influential columnists.
Just like central banking, economics wants to speak politically, but doesn't necessarily welcome a response. In Krugman, it sometimes comes across as condescension. At the Fed, it can appear more sinister.
Republican presidential debates, and even "liberal" magazines' online comment threads, are drawing hundreds eager to rail at clueless dissenters, especially if they can catch them bickering with one another.
Influential journalists are making persuasive cases that austerity is the wrong approach in fragile economies. That's good news. But discussions still get muddled in ways that can have perverse effects.