Brad Sherman, a representative of California, was attacking CEO's a few months back on using private jets to travel to the capitol hill testimony. He recently voted on purchasing private jets for congress under the defense budget.
Hypocrisy aside, a CEO's time is so valuable, that the economic cost of using a private jet to conveniently time visits and meetings may return more profit on potential deals through those visits. If the jet costs a few million but helped speed up a few billion dollars in deals, it may be worth it.
Also, I don't like Paul Krugman's character nor his opinions. Krugman is a Nobel Prize winner in economics. He frequently uses harsh terms when debating other economists like Mankiw. A bit too O'Reilly-like for me. I'd take Mankiw over Krugman any day.
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