Paul Krugman

Paul Krugman @paulkrugman

The original Phelps paper on the possibility of stagflation — whose analytical framework has aged much better than Friedman's — actually describes a wage-wage spiral 2/ https://t.co/GRv7w1SZzT — PolitiTweet.org

Paul Krugman @paulkrugman

A plea to econ journalists: Please stop writing about the danger of a "wage-price spiral". This distracts from the real question, which is whether inflation is getting entrenched in expectations 1/ — PolitiTweet.org

Paul Krugman @paulkrugman

Monetary policy matters; monetary aggregates, not so much, and they're not helpful at all as indicators during times of extraordinary economic stress 6/ — PolitiTweet.org

Paul Krugman @paulkrugman

People should really be reading James Tobin, who was clear about all this stuff almost 60 years ago. There's unjustified mysticism about assets that are formally considered "money" 5/ https://t.co/cMOwlspd1a — PolitiTweet.org

Paul Krugman @paulkrugman

That's silly, you say: the growth in Pelotons reflects demand, not supply, and there's no mechanism by which stationary bikes feed directly into inflation. But the same is true of M2! 4/ — PolitiTweet.org

Paul Krugman @paulkrugman

I mean, the stock of Pelotons has more than tripled. This would have been incredibly inflationary if the velocity of Peloton circulation (not pedaling speed) hadn't declined so much 3/ https://t.co/P9sfi2UN9I — PolitiTweet.org

Paul Krugman @paulkrugman

It's true that M2 has risen >40% since the start of the pandemic — and the worriers say that this would have been highly inflationary if the velocity of money hadn't fortuitously declined. But hey, I can beat that 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

There are many scary aspects to the current situation; indeed, if you aren't terrified you aren't paying attention. But lately I've been getting mail and seeing articles warning about a huge risk that isn't: runaway inflation when people spend all the money the Fed has printed 1/ — PolitiTweet.org

Paul Krugman @paulkrugman

Joe Gagnon and I seem to have written more or less the same article. Which is a good thing! — PolitiTweet.org

Paul Krugman @paulkrugman

RT @GagnonMacro: In an excellent article about the pandemic, @paulkrugman makes a small point that may mislead some readers. He calls into… — PolitiTweet.org

Paul Krugman @paulkrugman

Inflation expectations: What they're saying and why it matters https://t.co/UFwzqJ71B0 — PolitiTweet.org

Paul Krugman @paulkrugman

Today, smoking. Tomorrow, manspreading — PolitiTweet.org

Paul Krugman @paulkrugman

Very much so. There was a lot of hostility to the idea that partisanship was key. — PolitiTweet.org

Paul Krugman @paulkrugman

Not saying that everything is fine. But when Republicans' assessment of current economic conditions is worse than it was in 1980, with >7% unemployment and double-digit inflation, it seems bizarre to insist that these negative views make sense 5/ https://t.co/daxqevM3d9 — PolitiTweet.org

Paul Krugman @paulkrugman

This despite the fact that the Michigan Surveys themselves say that "the size of the partisan divide in expectations has completely dominated rational assessments of ongoing economic trends" 4/ https://t.co/7qjhKM01Oh — PolitiTweet.org

Paul Krugman @paulkrugman

I still encounter quite a few economists who, while willing to accept that watching Fox makes you *put your life at risk*, consider it uncouth to suggest that partisanship and misinformation are affecting *the way people answer economic surveys*, a rather less fraught issue 3/ — PolitiTweet.org

Paul Krugman @paulkrugman

Reading David's latest, I found myself thinking about the topic of my own column 2/ https://t.co/3uNFy7pQIl — PolitiTweet.org

Paul Krugman @paulkrugman

The role of partisanship and misinformation in deterring Americans from getting lifesaving vaccines is horrifying; it has also been a story many in the media long resisted accepting 1/ https://t.co/lhM9aUBgp6 — PolitiTweet.org

Paul Krugman @paulkrugman

Is there a dog on board wearing a hat and saying "This is fine"? https://t.co/TnZkc0eTIF — PolitiTweet.org

Paul Krugman @paulkrugman

I write about economic lessons from the pandemic https://t.co/mhFtmZ0okd — PolitiTweet.org

Paul Krugman @paulkrugman

RT @ThePlumLineGS: As @paulkrugman says: "Pundits calling on Biden to show 'humility' seem to be suggesting that he should give a version… — PolitiTweet.org

Paul Krugman @paulkrugman

via @NYTOpinion https://t.co/LQCtuC2lU6 — PolitiTweet.org

Paul Krugman @paulkrugman

Who, exactly, is saying that they're broken? The argument is that the skew of demand away from services toward goods has led to stretched supply chains. If you think that's wrong, deal with that argument — not a straw man — PolitiTweet.org

Paul Krugman @paulkrugman

RT @SteveRattner: Supply chains are not “broken.” They’re stretched—because we stretched them. My latest @NYTopinion: https://t.co/URdF7Rk4… — PolitiTweet.org

Paul Krugman @paulkrugman

RT @RVAwonk: FYI, this is one of the main organizers of the truck convoy, talking about bloodlines and white genocide. But please tell us m… — PolitiTweet.org

Paul Krugman @paulkrugman

RT @JanetGornick: The Great Resignation. Starts in one hour. Paul Krugman in conversation with @CaitlynMCollins @mlholder999 @lkatz42 @DKTh… — PolitiTweet.org

Paul Krugman @paulkrugman

Global gas prices here 3/ https://t.co/m9gsoytgDY — PolitiTweet.org

Paul Krugman @paulkrugman

But gasoline prices vary hugely across countries; for example, currently about $7.56 per gallon in the UK, about twice US level. Why? Taxes. British drivers can't avoid those taxes by filling up at US gas stations! I suspect that some motivated reasoning is going on 2/ — PolitiTweet.org

Paul Krugman @paulkrugman

Still boggled by economists not just asserting that cutting gas taxes is bad policy but that it wouldn't cut retail prices. Many people seem to be confusing gasoline with crude oil, for which there is indeed basically a world price the US can't much affect 1/ https://t.co/KptveNUASP — PolitiTweet.org

Paul Krugman @paulkrugman

Indeed. Terrorists endanger other people's lives to make a political statement, whereas mask opponents ... um, help me out here? — PolitiTweet.org