Paul Krugman

@paulkrugman ↗

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Last Checked Feb. 11, 2022

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Thu Jan 06 15:28:33 +0000 2022

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Paul Krugman @paulkrugman

The long-run trend reflected differential technological progress: a modern toaster has more computing power than was available to the Apollo astronauts, while barber shops still look pretty much the same as they did in the 1960s 2/ https://t.co/rWqDJxWJau — PolitiTweet.org

Posted Jan. 6, 2022

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Paul Krugman @paulkrugman

For reference: one important feature of recent inflation is that prices of durable goods have risen relative to services, which is very much a reversal of the historical trend 1/ https://t.co/UAjcRUQ6Y3 — PolitiTweet.org

Posted Jan. 6, 2022

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Paul Krugman @paulkrugman

So why the reversal? Supply chain issues, of course; the deviation from long-run trend gives a measure of how serious those have been 3/ — PolitiTweet.org

Posted Jan. 6, 2022