Will the Economy Favor Biden or Trump? Paul Krugman Weighs In.
He joins the hosts to talk inflation, bad vibes, and how voters will respond in November.
link: Paul Krugman Weighs In.
link: Will the Economy Favor Biden or Trump? Paul Krugman Weighs In.
Nobel Laureate, Paul Krugman, is a very bright guy. He's an honest man as he has owned his own errors and does not hide the fact that he chose long ago to become a partisan fighting against serious partisan economic arguments put forth by the right for far too long -- unchallenged.
Paul is usually right on the money in his opinions, and in his facts he is rarely ever debunked.
He joins the hosts to talk inflation, bad vibes, and how voters will respond in November.
link: Paul Krugman Weighs In.
link: Will the Economy Favor Biden or Trump? Paul Krugman Weighs In.
Nobel Laureate, Paul Krugman, is a very bright guy. He's an honest man as he has owned his own errors and does not hide the fact that he chose long ago to become a partisan fighting against serious partisan economic arguments put forth by the right for far too long -- unchallenged.
Paul is usually right on the money in his opinions, and in his facts he is rarely ever debunked.
michelle cottle
And debate the politics, and I know we all have opinions on this one. So let’s start with the voters. Why do we think that people on both sides are a little bit pessimistic?
carlos lozada
Yeah, I mean I think Paul mentioned the partisan gap in the way we think about the economy. And that means that, to some extent, your views on the economy depend on whether your party, your favorite politicians are in office. That seems to be stronger for Republicans than for Democrats whose views tend to track a little more with the actual economic indicators.
But I think there’s a way in which even a nominally strong economy can still have you feeling pessimistic. I just — I mean, I just look at my own circumstances. I have a good job with a good salary. But I’m scared that AI is going to kill that good job and that my good salary will never be enough to pay three college tuitions that are facing me down, you know.
And so I think there are ways in which you can look at positive current conditions and still be concerned about long-term economic prospects. And that can cloud that vision.
michelle cottle
So the anticipation of trouble down the road. So it’s not that people aren’t necessarily responding rationally, they’re just looking at the longer term?
carlos lozada
I’m just saying that those are rational concerns, right, depending on your time horizon.
paul krugman
My last newsletter was called “Believing is Seeing,” and it’s definitely the case that a lot of voters’ perceptions of the economy and of other stuff are very much based upon what they think, based on their politics, should be true rather than what’s actually going on. And it’s really clear in the economic data. It’s really clear on views on crime.
Now, should everybody be feeling happy and comfortable and at no risk? No, of course, not. There is — I mean, could technology come for your job? Yes, of course, it could. I guess my question there is always, when has that not been true? Technology doesn’t have to be AI. It doesn’t have to be robots. It can be anything. But it’s hard to really think that the amount of risk and uncertainty is greater now than it’s been pretty much since the Industrial Revolution.
ross douthat
I mean, I think it’s worth speaking up for the theory that I know Paul disagrees with, to some extent, that people just really don’t like inflation in a way that lingers in polling data and people’s perceptions of the economy, even after the headline number inflation rate has come down.