The throw-down of the 2012 election: Nobel Prize winner Paul Krugman clashes with GOP presidential candidate Ron Paul, the uber-popular libertarian. 

Watch the live webcast beginning at 3 p.m. for Krugman, who will be guest-hosting Bloomberg's Street Smart until 5 p.m. 

Paul is currently surging in the GOP primaries (though he'll never win), picking up delegates in a number of states. 

Paul loyalists, of course, still harbor hope for getting their man nominated at the national convention in Tampa in late August. In order to do that, Paul must have a majority of support from at least five state delegations. With states like North Dakota, Minnesota, Nevada, Maine, and others on track, his supporters could then attempt to nominate him from the floor.

And it’s looking like he’ll get the states he needs to be eligible for a nomination (though, by no means would he be able to beat Mitt Romney's delegate haul). Even being eligible would be a massive #win for Paul, though, especially as he shops his libertarian ideology and seeks to influence conservative politics on a more philosophical level.

On the heels of the recent "controversial" New York Times piece, where Krugman called on Federal Reserve Chairman Ben Bernanke to do more for the U.S. economy, Krugman will be asked to explain exactly how more stimulus will create jobs and put the economy back on the growth track. Also just what rug will the trillions in additional debt be swept under.  Then at 4pm, Krugman will face the ultimate debate with Ron Paul, who has called for drastic cuts in spending. Grab your popcorn now.

As Terrell Owens would say, "Getcha popcorn ready."

Watch the live webcast here: