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Paul Krugman
Nobel laureate. Op-Ed columnist, . Author, “The Return of Depression Economics,” “The Great Unraveling,” “The Age of Diminished Expectations” + more.
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Paul Krugman 8h
My father's co-workers used to wish him "happy Yom Kippur"
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Ezra Klein Apr 19
It's a sign of the rot in our political system that all conversation about holding the president accountable takes the form of discussing "What Democrats should do," because Republicans have utterly abdicated their oversight role.
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Tom Nichols 17h
Replying to @RadioFreeTom
The Russians attacked the election. The Trump campaign, right up to the top, thought that was awesome. They greeted it with "how can we work this" instead of "call the FBI." They lied, and lied, and lied some more. Amazing that the media got *any* of it right faced with that. /7
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Paul Krugman 17h
Very good and smart from one of our greatest economists. (I don't think laypeople fully appreciate Joe's greatness as a theorist) "Progressive capitalism" is a good phrase, in part because it does involve reviving a lot of the original progressive agenda
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Paul Krugman 17h
Replying to @paulkrugman
Two interesting questions: What changed? (Knowledge economy? Decline of need for farmers? Urban revival?) And what if anything can/should we do about it? I guess I'm supposed to have answers by next fall 6/
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Paul Krugman 17h
Replying to @paulkrugman
Since then, the process has if anything gone in the opposite direction. 5/
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Paul Krugman 17h
Replying to @paulkrugman
And we actually do seem to see a qualitative change in US regional dynamics circa 1979. Until then, poor states had systematically tended to converge on rich states. The picture was really striking 4/
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Paul Krugman 17h
Replying to @paulkrugman
What this implies, in turn, is that quantitative change in these forces can produce qualitative change in the economy's dynamics. If the relative strength of the centripetal forces crosses a critical level, already leading areas start snowballing 3/
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Paul Krugman 17h
Replying to @paulkrugman
Specifics of the model aside, what I argued back then was that the geography of the economy reflects a tug-of-war between "centripetal" forces that pull things together, and "centrifugal" forces that pull them apart. 2/
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Paul Krugman 17h
I've been asked to give a keynote at an upcoming Boston Fed conference on geographic disparities, and has a sudden urge to look at some data. In case you don't know, this (from 1991) is my most-cited paper 1/
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Paul Krugman 18h
Replying to @paulkrugman
When people ask me what ails the French economy, I always answer hypochondria. Too many people in France believe the constant propaganda about how their welfare state is unsustainable. In fact, France was doing fine until the austerity era came along 3/
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Paul Krugman 18h
Replying to @paulkrugman
Macron, of whom so much was hoped, has turned out to be the Howard Schultz of France – obsessed with debt and the need for austerity, plus a belief that taxing the rich is inconceivable, long after the economic evidence has refuted all of this 2/
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Paul Krugman 18h
Billionaires rushed to offer funds to rebuild Notre Dame. But in the context of Macron's policies – tax cuts for businesses, austerity for the masses – there has been an understandable backlash 1/
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David Roberts Apr 19
I would love the left's wonks to think less about clever + efficient policy and think more about big + dumb + durable policy.
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Daniel Dale Apr 19
It has now been two hours and eleven minutes since the president started but did not finish this sentence. He has since gone to his golf club.
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Paul Krugman Apr 19
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Josh Marshall Apr 19
Obvious: The only reason we're seeing even one line of the Mueller Report is because Democrats won control of the House in 2018. Period. Zero question about this.
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Paul Krugman Apr 19
Replying to @paulkrugman
In other words, you can't simultaneously believe that USMCA is net beneficial and that overall Trump trade policy is good for America. If uncertainty matters, it matters. 5/
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Paul Krugman Apr 19
Replying to @paulkrugman
Beyond that, Trump is in general introducing a lot of uncertainty regarding future trade policy – deliberately, bc he thinks that gives him leverage. But if uncertainty has large costs, this means that overall Trump position hurts us 4/
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Paul Krugman Apr 19
Replying to @ChadBown
So does the USMCA actually reduce uncertainty? That's far from clear. As says, it introduces a big new source of uncertainty in the form of sunset clauses -- unlike NAFTA, stuff needs to be renewed – which isn't taken into account in report 3/
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