When I noticed that Paul Krugman, aka Krugtron the Invincible, wasn't going to bother with Niall Ferguson's turgid jeremiad at HuffPo, I thought I could step into the breach. Except it turns out, the work has already been done. A veritable link forest below.
First, I should mention one point Krugman concedes he was, so far, wrong on: Greece and Spain are still in the Eurozone. But, as he points out, his economic predictions about the effect of Austerity were correct. Where he was mistaken was the political expectation that Depression-level unemployment would force the Greek government to drastic action like withdrawal from the Euro. Even here, of course, Ferguson's triumph may be short-lived.
But onward: anyone who wants to know what sort of debased, deceitful wreck of an intellectual Ferguson is should check out Noah Smith, Smith again, Smith's most recent, Matt O'Brien, O'Brien twice, Ezra Klein, Joe Weisenthal, James Fallows, Politico, Josh Barro, Ramesh Ponnuru, Dan Drezner, Michael Lind, Andrew Sullivan (plus at least four Sullivan follow-ups to this link) [these last five authors are conservatives or libertarians].
It says something about the importance of Harvard in our culture that the ravings of one of their professors gets so much attention. It also says something about the emptiness of American intellectual conservatism that this is what they have on offer: Limbaugh with a British accent.