Sachs versus Krugman: Round ???

Jeffrey Sachs again takes on Paul Krugman (and indirectly Larry Summers) in his call for a new macroeconomics. (My comments on past attacks, with links to the originals, can be found here and here.) I'm not sure that there is much new here, so I would again take Krugman's side.

Sachs' complaint is that we should be doing long-term planning to lay infrastructure for transportation, energy, and other areas of the economy. This is fine and I would expect no objections from Krugman. Certainly the...