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 Paul Krugman

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updated Mon. April 22, 2019

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On April 21 Princeton held a memorial service for Uwe Reinhardt, one of our greatest health care economists. I had the great honor of being one of the speakers, and I thought I'd share the text I prepared. As you might guess, over the years I've gotten to know quite a few economists. Some of these ...
WASHINGTON: Since Donald Trump's election, Nobel Prize-winning economist Paul Krugman has become delusional. Too numerous to name but one, Krugman's columns take a position that is not just biased but completely void of reality. His latest column, “The Great Snake Oil Slump” continues ...

[Receive the day's most urgent debates right in your inbox by subscribing to the Opinion Today newsletter.] So why is this time different? I don't think it's the specifics of tax policy. Bush and Trump both pushed through big tax cuts for the rich with what amounted to loss-leader cuts for some middle-class ...
I don't know what will happen in the midterm elections. But if Republicans pull it out – that is, if they lose the popular vote by a small enough margin that gerrymandering and the geographic concentration of nonwhite voters frustrate the public's will – it will be the result of tribalism. It won't be because the ...
Even now, in this age of Trump, there are a substantial number of opinion leaders — especially, but not only, in the news media — whose careers, whose professional brands, rest on the notion that they stand above the political fray. For such people, asserting that both sides have a point, that there are ...
If you've been watching stock markets, you're probably feeling seasick. The Dow is crashing! No, it's bouncing back! Wait, it's crashing again! In general, trying to explain stock fluctuations is a mug's game. But in this case it's pretty clear what's going on. Whenever investors suspect that Donald Trump will ...

As I write this, China's announcement of a new round of tit-for-tat tariffs has stoked fears of trade war and sent stock futures plunging. If this morning's futures hold, the S&P 500 will be about 10.5 percent off its January peak, around 6 percent off its level when Gary Cohn, the last of the Trump “globalists,” was ...
These days almost everyone has the (justified) sense that America is coming apart at the seams. But this isn't a new story, or just about politics. Things have been falling apart on multiple fronts since the 1970s: Political polarization has marched side by side with economic polarization, as income inequality ...
The other day the Trump administration announced a trade deal with South Korea. It also announced that President Donald Trump was nominating the White House physician to head the Department of Veterans Affairs. Both announcements indicate how Mr. Trump views his job: that it's not about ...
Dr. Ronny L. Jackson, President Trump's physician, and Sarah Huckabee Sanders, the White House press secretary, discussed the results of the president's physical in January.CreditDoug Mills/The New York Times. Image Paul Krugman. By Paul Krugman. March 29, 2018. The other day the Trump ...
“Trade wars are good, and easy to win.” So declared Donald Trump a few weeks ago, after announcing tariffs on steel and aluminum. Actually, trade wars are rarely good, and not at all easy to win — especially if you have no idea what you're doing. And boy, do these people not know what they're doing.
A 2011 Occupy Wall Street demonstration. Some zombie ideas — bad ideas that won't die — are still embraced by Republicans, like trickle-down economics.CreditEmmanuel Dunand/Agence France-Presse — Getty Images. Image Paul Krugman. By Paul Krugman. March 19, 2018. Almost four decades ...
Paul Krugman took questions from readers about trade after President Trump's announcement of tariffs on steel and aluminum imports. Here are his answers to some of the hundreds of questions he received. — By the Editors. 1. Literally every small consumer item I buy is made in China. Please explain ...
There's near-universal consensus among both economists and business leaders that Donald Trump's tariffs on steel and aluminum are a bad idea, and that the wider trade war those tariffs could trigger would be very destructive. But the chances of heading off this policy disaster are small, because this is a ...
OK, Trump has gone ahead with steel and aluminum tariffs, with an exemption for Canada and Mexico if they renegotiate NAFTA (which seems to make nonsense of the supposed national security rationale, but whatever). This is potentially a very big deal; we could be looking at the unwinding of the whole ...
Imagine that you're listening to some garrulous old guy in a diner, telling you what's wrong with the world — which mainly involves how we're being victimized and taken advantage of by foreigners. You hear him out; after all, there have been approximately 17,000 news analyses telling us that garrulous old ...
We've known all along that Donald Trump is belligerently ignorant about economics (and many other things). But up to this point that hasn't mattered much. He took office amid a sustained recovery that began under his predecessor, and that recovery had already lifted the U.S. economy to the point where ...

But oh, did I wish that somehow New York Times columnist (and economist and Nobel laureate) Paul Krugman had been the one asking the questions. Krugman's column reacting to the news that Ryan was departing called Ryan a “flimflam” man, a term Krugman has used consistently for about six years to ...
Peter Thiel, Facebook investor and Donald Trump supporter, is by all accounts a terrible person. He did, however, come up with one classic line about the disappointments of modern technology: “We wanted flying cars, instead we got 140 characters.” O.K., now it's 280, but who's counting? The point of his ...
Don Blankenship (second from left) was sentenced to prison for conspiring to violate mine safety standards. He appears now to have a real chance in the Republican Party's primary in the West Virginia Senate race.CreditF. Brian Ferguson/Gazette-Mail, via Associated Press. Image Paul Krugman. By Paul ...
Donald Trump doesn't give a dam. Or a bridge. Or a road. Or a sewer system. Or any of the other things we talk about when we talk about infrastructure. But how can that be when he just announced a $1.5 trillion infrastructure plan? That's easy: It's not a plan, it's a scam. The $1.5 trillion number is just made ...
Here in the English-speaking world, most of us in the econo-pundit business have been focusing a lot on the US economy post-Trump, and secondarily on the British economy post-Brexit. But once in a while we ought to look further afield. And there's a pretty big story that isn't getting much play in the US, ...
Back in the days of austerity amidst depression, some of us spent a lot of time thinking and writing about fiscal multipliers. Reading Neil Irwin on the effects of the GOP's new what-me-worry approach to deficits, I found myself thinking back to that discussion, and what it implies for the short-run economic ...
In 2011, House Republicans, led by Paul Ryan, issued a report full of dire warnings about budget deficits. “The United States is facing a crushing burden of debt,” it declared, warning of a looming fiscal crisis that might “capsize” the economy. Republicans refused to raise the federal debt ceiling, threatening ...
Republicans preached fiscal austerity when the economy needed stimulus, and have turned to fiscal profligacy now that it doesn't. If this surprises you, either you've been completely oblivious to the reality of the modern GOP for the past decade, or you're a reflexive centrist – which is pretty much the same ...
In 2011, House Republicans, led by Paul Ryan, issued a report full of dire warnings about the dangers of budget deficits. “The United States is facing a crushing burden of debt,” it declared, warning of a looming fiscal crisis that might soon “capsize” the economy. Citing the horrors of big deficits, Republicans ...
In a now-deleted tweet, which has nonetheless already become notorious, Paul Ryan tried to hype the benefits of his massive corporate tax cut by celebrating the example of a worker who's getting $1.50 more per week. That's roughly the price of a small French fries at McDonald's. Should we keep giving ...
A few days after President Trump was inaugurated, Benjamin Wittes, editor of the influential Lawfare blog, came up with a pithy summary of the new administration: “malevolence tempered by incompetence.” A year later, that rings truer than ever. In fact, this has been a big week for malevolence. But today's ...
Trump's main goal in the State of the Union speech was to sound serious and presidential. Did he succeed? I don't think so – I found the fear-mongering over immigrant crime disgusting. But mostly I don't care. I've never seen much merit in the theater-criticism school of political punditry. What matters is the ...
A lot of Trump's speech — and an even greater share of the emotional energy, since he seemed bored reciting misleading economic numbers — was devoted to lamenting a wave of violent crime by immigrants. Was this racist? Yes, of course. But saying that doesn't capture the full evil of what he was doing ...
But as Paul Krugman reminds us in his Monday column, that assessment is over-optimistic at best, and entirely false at worst. After all, this administration has a tenuous relationship with the truth. Remember when the Treasury Department claimed that the GOP tax plan will pay for itself because we can ...
The other day my barber asked me whether he should put all his money in Bitcoin. And the truth is that if he'd bought Bitcoin, say, a year ago he'd be feeling pretty good right now. On the other hand, Dutch speculators who bought tulip bulbs in 1635 also felt pretty good for a while, until tulip prices collapsed ...
The years immediately following the 2008 financial crisis were a golden age of inflation derp, at various levels. There were the Glenn Beck/Ron Paul frothing-at-the-mouth Austrian types predicting hyperinflation just around the corner. But there were also the seemingly respectable monetary “experts,” from ...
Back in the depths of the Cold War, people used to talk about “doomsday machines,” devices that could destroy the world. What would be the use of such a device, since anyone using it would destroy himself, too? Well, the main idea was that it could provide deterrence. But there was also the notion that a ...
Paul Krugman (C), Nobel Prize-winning economist and professor emeritus of economics and international affairs at Princeton University, speaks to reporters after a meeting discussing global economy hosted by Japan's ... Days later Krugman wrote in his column that “I am retracting that call, right now.
Nobel-prize winning economist Paul Krugman, who writes a column for The New York Times, nabbed the No 1 spot. ... While Senator Flake's stance was not echoed by the Republican mainstream, it was mirrored by his Arizona colleague John McCain, in an opinion piece for The Washington Post entitled ...
These days calling someone a “know-nothing” could mean one of two things. If you're a student of history, you might be comparing that person to a member of the Know Nothing party of the 1850s, a bigoted, xenophobic, anti-immigrant group that at its peak included more than a hundred members of ...
Like millions of people around the world, I was reassured to learn that Donald Trump is a “Very Stable Genius.” You see, if he weren't — if he were instead an erratic, vindictive, uninformed, lazy, would-be tyrant — we might be in real trouble. Let's be honest: This great nation has often been led by mediocre ...
I haven't yet read Wolff's book – do I really have to? — but the basic outlines of his story have long been familiar and uncontroversial to anyone with open eyes. Trump is morally and intellectually incapable of being president. He has also exploited his office for personal gain, obstructed justice, and colluded ...
Paul Krugman will be the first to admit he got the first year of Donald Trump's presidency wrong. ... In his New Year's column, Krugman acknowledges that the U.S. president ultimately has far less influence over the economy than the chair of the ... Read Paul Krugman's column at the New York Times.
I'm on vacation, keeping vague track of the news but basically taking a break and spending a lot of time communing with nature. But I've also been thinking a bit about economics, taking advantage of psychological distance to ruminate on stuff that isn't closely connected to the news. And one of the areas ...
That insufferable, Trump-addled blowhard who writes opinion pieces for The New York Times once actually won the Nobel Memorial Prize in ... They actually removed access to Krugman's stand-alone column, a rare occurrence outside of stories which include proven falsehoods or induce legal challenges.
This article is part of the Opinion Today newsletter. You can sign ... They're listed below, along with each columnist's most-read column of the year, according to our digital metrics. You'll notice ... I've also listed two editorials chosen by the editorial board; the most-read editorial; and the 10 most-read op-eds.
“You all just got a lot richer,” Trump reportedly told guests at Mar-a-Lago. But Republicans will nonetheless keep insisting that the corporate tax cut that is the main item in the tax bill is really for the benefit of workers. They will be aided in this claim by some recent corporate announcements of bonuses or ...
It's that time of year again. Some of us will get nice gifts; others will get lumps of coal. But the rules have changed, at least as far as the federal government is concerned. The St. Nick you knew is on vacation. Instead we have Republican Tax-Cut Santa, who has different priorities. This guy will reward you if ...
It's that time of year again. Some of us will get nice gifts, while others will get lumps of coal. But the rules have changed a bit this time, at least as far as the federal government is concerned. The St. Nick you knew is on vacation, possibly permanently. In his place we have Republican Tax-Cut Santa, who has ...
Unless something drastic happens, this will be the week Republicans ram through a tax cut that adds more than a trillion dollars to federal debt while undermining health care for millions. They will do so by violating all previous norms for major legislation, having held not a single hearing and rushed to a ...
Suppose that I could get The Times to stop paying me a salary, and instead to pay the same amount to Krugmanomics LLC, a consulting firm consisting of one person — me — that sells opinion pieces. I would probably get a big tax break as a result. Now, the bill will contain complicated rules intended to ...
So, it seems that Republicans are responding to the devastating defeat in Alabama – which is part of a sustained pattern of underperformance in special elections, demonstrating that bad polls reflect reality, not bad polling, by … doubling down on a massively unpopular tax plan, whose main focus is on ...
On Monday the Treasury Department released a one-page report claiming that tax cuts would pay for themselves. The document was a shameless attempt to fool the public — carefully worded to imply that economic experts at Treasury (they're still in there somewhere, maybe locked in a closet) had actually ...


 

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