Oh Snap, Mankiw
Newsweek has a decent story with which I only partly agree, but the best parts are bits like this one:
Let's say you're a tenured professor of economics at Harvard. You have—and have earned—a great deal of stability and security. Your job is guaranteed, at pretty much the same salary, until retirement. Your employer, which has been around for more than 350 years, isn't going anywhere.
If you believe the typical American worker would respond to tax cuts the way a typical tenured Harvard economist would, then it makes all the sense in the world to focus on tax cuts to the exclusion of other types of stimulus. But if you believe the typical American worker might respond to tax cuts the way, say, a typical Cambridge-area worker would, you might be less sure.
I've always been skeptical of economists with tenure telling me how I should think about globalization, for instance. Of course, Dr. Mankiw turned off comments at his blog some time ago, so he'll never get any feedback with which he's uncomfortable - one more way in which he's more like those he served at the Bush administration than he would like you to believe.