Paul Krugman

Paul Krugman @paulkrugman

RT @nytopinion: “When people hear ‘stagflation,’ most think of the late 1970s and early ’80s,” writes @paulkrugman. “But there’s no evidenc… — PolitiTweet.org

Paul Krugman @paulkrugman

But in principle, we should want to send the message that military conquest will not stand. And the desire to make nice with war criminals and would-be conquerors seems just bizarre 10/ — PolitiTweet.org

Paul Krugman @paulkrugman

Concretely: Why is Putin entitled to keep the territory he seized in 2014? As a practical matter, regaining all that territory, Crimea in particular, may be unrealistic — although predictions from military "realists" haven't been great lately. 9/ — PolitiTweet.org

Paul Krugman @paulkrugman

So it's very much in the interest of allies of democracy to see Putin defeated, clearly and unmistakably — to provide an object lesson that wars of aggression don't pay, and also to demonstrate that unfree societies are weaker, not stronger, than democracies 8/ — PolitiTweet.org

Paul Krugman @paulkrugman

But of course that's not what Putin or Putinism is. We're talking about an imperialist, authoritarian regime that is also at the center of a global anti-democratic, ethnonationalist movement. If he gets away with this, he and similar-minded people will just be encouraged 7/ — PolitiTweet.org

Paul Krugman @paulkrugman

Given that view, they want to give Putin an out, letting him save face and avoid humiliating defeat; the idea is that he will henceforth behave himself. Or as Susan Collins might say, that he will have learned his lesson 6/ — PolitiTweet.org

Paul Krugman @paulkrugman

The equivalent in foreign affairs, I'd suggest, is wanting to see Putin's Russia as a normal power, respecting the kinds of limits — e.g., no outright wars of conquest — that were pretty much universally enforced under the Pax Americana 5/ — PolitiTweet.org

Paul Krugman @paulkrugman

For years, many of my pundit colleagues kept wanting to believe that the GOP was still a normal political party; bipartisanship was their holy grail, and anyone pointing out right-wing radicalization was "shrill" 4/ — PolitiTweet.org

Paul Krugman @paulkrugman

It looks to me as if many foreign-policy pundits suffer from the same delusions that afflicted many "centrist" domestic pundits until recently (and still does, for a few): refusal to acknowledge that we're not dealing with politics as usual 3/ — PolitiTweet.org

Paul Krugman @paulkrugman

I'm seeing more and more pieces that seem weirdly distressed, even panicked, by the possibility that Ukraine will win a clear military victory. Not my usual arena, but I have a guess about what's going on 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

I wrote about the unexpected success of economic sanctions against Putin — unexpected both in degree and in kind. Which adds to my puzzlement at the weird aversion much of the foreign-policy commentariat seems to have to success 1/ https://t.co/gBl35pWFKX — PolitiTweet.org

Paul Krugman @paulkrugman

RT @D_A_Irwin: Key, priceless graf from @paulkrugman: How the West Is Strangling Putin’s Economy https://t.co/y3lNOq2Tzd https://t.co/Mgn… — PolitiTweet.org

Paul Krugman @paulkrugman

RT @nytopinion: Russia’s exports “are (alas) holding up well despite its pariah status, but its economy is being crippled by a cutoff of im… — PolitiTweet.org

Paul Krugman @paulkrugman

in 2021, major crime was 80% (!) lower than in 1990 2/ https://t.co/uo6g3dPUMh — PolitiTweet.org

Paul Krugman @paulkrugman

This is bizarre, and completely at odds with data from ... the City of New York 1/ — PolitiTweet.org

Paul Krugman @paulkrugman

People say that crypto has yet to find any real economic uses. But that's false: think of all the people and institutions making money by flacking blockchain something or other https://t.co/DJx3k8bZkw — PolitiTweet.org

Paul Krugman @paulkrugman

The incredible shrinking blitzkrieg: This map from Euromaidan is the best explanation I've seen of how the battle of Donbas has been going https://t.co/lpTNIl02OS — PolitiTweet.org

Paul Krugman @paulkrugman

RT @nytopinion: “The embrace of crank economics presaged the general moral collapse of the Republican establishment,” @paulkrugman writes.… — PolitiTweet.org

Paul Krugman @paulkrugman

RT @Liz_Cheney: The House GOP leadership has enabled white nationalism, white supremacy, and anti-semitism. History has taught us that what… — PolitiTweet.org

Paul Krugman @paulkrugman

Can excessive schadenfreude do long-term health damage? — PolitiTweet.org

Paul Krugman @paulkrugman

RT @BrankoMilan: CERGE-EI excellent conference on 30 years of transition, now online; panel with @fukuyama, Jeff Sachs, @DeirdreMcClosk, @b… — PolitiTweet.org

Paul Krugman @paulkrugman

If you think that would be too intrusive, OK. But the anti-anti-price gouging rhetoric I’m hearing is bizarrely over the top. With everything else going on, why get so worked up about this issue? Something isn’t right here 20/ — PolitiTweet.org

Paul Krugman @paulkrugman

Even the Warren bill, while it would require large firms to offer explanations for price hikes, is far short of a true price control measure 19/ https://t.co/iwGe8tFrHP — PolitiTweet.org

Paul Krugman @paulkrugman

It would be one thing if Dems were doing a Hugo Chavez, and demanding that the Fed roll the presses while we use price controls to suppress inflation. But they aren’t; heck, they aren’t even doing a Richard Nixon 18/ — PolitiTweet.org

Paul Krugman @paulkrugman

How big a factor is this? We have no idea. But the venom with which some economists and commentators are rejecting the very possibility is puzzling and disturbing 17/ — PolitiTweet.org

Paul Krugman @paulkrugman

But there will be less backlash if lots of other prices are also going up, so it’s not at all crazy to suggest that some corps are feeling freer than usual to exploit their market power, adding to inflation 16/ — PolitiTweet.org

Paul Krugman @paulkrugman

And firms sometimes hesitate to raise prices, at least visibly — hence the phenomenon of shrinkflation, where you make stuff smaller rather than hike prices 15/ https://t.co/hV83elpLrA — PolitiTweet.org

Paul Krugman @paulkrugman

This in turn implies that seemingly small considerations — like fear of customer or political backlash — can inhibit firms from charging or paying what the traffic will bear. E.g., firms don’t cut wages in recessions bc they worry about morale 14/ — PolitiTweet.org

Paul Krugman @paulkrugman

One answer is that when a wage (or price) setter has market power, small deviations from the profit-maximizing price have only second-order effects on profits 13/ https://t.co/xkQtGAGULS — PolitiTweet.org

Paul Krugman @paulkrugman

Many economists who study the evolution of wages — for example the Great Compression of the 1940s, which lasted for decades — end up invoking the role of “norms”. But how can these matter in the face of supply and demand? 12/ — PolitiTweet.org