Paul Krugman

@paulkrugman ↗

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Last Checked Jan. 7, 2023

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Thu Nov 24 14:21:20 +0000 2022

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Paul Krugman @paulkrugman

To put some numbers to it: 50 years ago J.Paul Getty was America's richest man, and a very strange guy. But he was worth "only" ~$2 billion. Until recently Musk was worth >100X times that. 3/ — PolitiTweet.org

Posted Nov. 24, 2022

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Paul Krugman @paulkrugman

One thing I haven't seen discussed, however, is how inequality has magnified the influence of paranoid plutocrats. There have always been super-rich people disconnected from reality; that's what being surrounded by sycophants can do. But they matter much more now 2/ — PolitiTweet.org

Posted Nov. 24, 2022

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Paul Krugman @paulkrugman

True, a billion $ isn't what it used to be: nominal GDP up by a factor of ~20, total wealth somewhat more. But Musk's spending power is still much bigger relative to America than Getty's was. So his solipsism can do far more damage than that of billionaires past 4/ — PolitiTweet.org

Posted Nov. 24, 2022