The point and counterpoint of academic debate that once occurred over months or years has been compressed to mere hours by social media. Today the Twitterverse exploded with chatter about a new research paper claiming to find holes in a landmark academic paper that’s been cited to justify extreme austerity measures. By mid-afternoon the authors—Harvard economists Carmen Reinhart and Kenneth Rogoff—had e-mailed reporters a quick reply defending their work.
This isn’t over yet. Reinhart and Rogoff will have to give a more substantial reply, and the authors of the critique will undoubtedly reply to the reply.