Paul Krugman

@paulkrugman ↗

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Last Checked Feb. 16, 2023

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Sun Jan 01 13:08:21 +0000 2023

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Paul Krugman @paulkrugman

I think this came from Martin Baily in the 70s. Anyway, one way to think about inflation is that it's like a sports event where everyone stands up to get a better view of the action — which is collectively self-defeating 2/ — PolitiTweet.org

Posted Jan. 1, 2023

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Paul Krugman @paulkrugman

A very good point from Olivier, but the replies make it clear that many people don't get it. Maybe an old analogy can help clarify 1/ — PolitiTweet.org

1/8. A point which is often lost in discussions of inflation and central bank policy. Inflation is fundamentally t… https://t.co/papcjOWMDc

Posted Jan. 1, 2023

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Paul Krugman @paulkrugman

Controlling inflation by inducing a recession is like stopping the action on the field until everyone sits down again. It works, but at a cost 3/ — PolitiTweet.org

Posted Jan. 1, 2023