I would be more willing to listen to Krugman if he hadn’t spent so much effort during the Biden administration to find reasons why inflation wasn’t bad but just a “vibecession”.
I didn't interpret his explanations that inflation wasn't bad, but that it wasn't linked to more structural economic issues. It was due to the shock of Covid, and then the macroeconomic policies that tried (and very much succeeded, if you take other countries as counterexamples) to limit the medium- and long-term damage.
To compare and contrast, much of the current wave of inflation can be traced to tariffs and conflict in the Middle East and Ukraine, which is mostly self-inflicted and based on strongman politics. I would maybe argue even those aren't necessarily structural issues, as they could be relatively solved overnight, theoretically.
True structural economic issues are scenarios like the 2008 GFC.
tl;dr you've provided a poor reason to not be listening to Krugman, and you probably have more reasons than what you're letting on.
Sure, personally I think Krugman is a bit abrasive and political when he could be a bit more refined in his delivery. But, then again he probably wouldn’t get the clicks and the traction he’s gotten over his career.
But most people I know who don’t like Krugman are generally against monetary policy, as he’s one of the biggest mainstream proponents.
vjvjvjvjghv · · focus · HN ↗
datsci_est_2015 · · focus · HN ↗
To compare and contrast, much of the current wave of inflation can be traced to tariffs and conflict in the Middle East and Ukraine, which is mostly self-inflicted and based on strongman politics. I would maybe argue even those aren't necessarily structural issues, as they could be relatively solved overnight, theoretically.
True structural economic issues are scenarios like the 2008 GFC.
tl;dr you've provided a poor reason to not be listening to Krugman, and you probably have more reasons than what you're letting on.
vjvjvjvjghv · · focus · HN ↗
Can you enlighten me on these reasons?
datsci_est_2015 · · focus · HN ↗
But most people I know who don’t like Krugman are generally against monetary policy, as he’s one of the biggest mainstream proponents.