While this particular prediction didn't (yet) come true, Krugman is at least one of the few name-brand economists who will admit when he is wrong. He's also got a Nobel in the field, so to write off his textbook as unreadable for a failed prediction seems like a little much.
An economics Nobel is not the same thing as a Nobel in (for example) Physics, and citing it as an appeal to authority is intentionally misleading.
Surely you would still accept credentials, right? Like, I would expect a PhD, etc. Nobel in economics certainly isn't without meaning in that regard.
Krugman now is a political hack but his earlier work was ok, including his early books.
His early work on trade policy is good, his other stuff is not great
Agree, his school book was fine. His stuff on the recession is terrible simplified populist Post-Keynsian wash.
Economists have predicted 7 of the last 5 recessions.