Krugman Vs. Cochrane

Not long ago, Mankiw linked to a New York Times article by Paul Krugman titled, "How Did Economists Get It So Wrong?"  Krugman gives a brief (7,000 word) history of macroeconomic thought ending with a plea that the profession re-embrace the economics of Keynes.  In his article, he did a lot of simplification of modern macroeconomic thought that might be viewed as caricatures of significant contributions that disagree with his opinions.  Today, Mankiw linked to a response by John Cochrane titled, "How did Paul Krugman get it so Wrong?"  In his 4,000 word response, Cochrane defends many contributions dismissed by Krugman.  Interested students would benefit by reading both papers.   
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