Paul Krugman

@paulkrugman ↗

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Last Checked Sept. 12, 2020

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Wed Aug 12 16:03:25 +0000 2020

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Paul Krugman @paulkrugman

Tobacco products were a big part of consumer spending, and mostly went away 7/ https://t.co/2ovxnv7vrA — PolitiTweet.org

Posted Aug. 12, 2020

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Paul Krugman @paulkrugman

But in the longer run, even if we don't have a vaccine and can resume traditional activities, people will find other ways to spend their money. Here's a historical example: what happened to tobacco spending when health concerns led to much lower smoking? 6/ https://t.co/Vds5dcQbQB — PolitiTweet.org

Posted Aug. 12, 2020

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Paul Krugman @paulkrugman

But the savings rate didn't rise; people just found other things to buy. The same will eventually happen for whatever activities we can't resume post-Covid 8/ — PolitiTweet.org

Posted Aug. 12, 2020