Truthout has republished The New York Times article Paul Krugman | Alan Greenspan, Doing His Best to Make Things Worse.

But academic credentials are neither a necessary nor a sufficient condition for having your ideas taken seriously. If a famous professor repeatedly says stupid things, then tries to claim he never said them, there’s no rule against calling him a mendacious idiot – and there are no special qualifications required to make that pronouncement other than doing your own homework.

Conversely, if someone without formal credentials consistently makes trenchant, insightful observations, he or she has earned the right to be taken seriously, regardless of background. One of the great things about the Internet is that it has made it possible for a number of people meeting that second condition to gain an audience. I don’t care whether they’re Ph.D.’s, professors, or just guys running blogs – it’s the work that matters.

I have already coined Greenberg’s Law Of Reverence to cover this situation.  Also, when I publish statements from people like Paul Krugman, I usually try to avoid mentioning the awards that they have won, unless to disparage the award.  Readers like RichardH will know what award in particular that I am not mentioning.