Dante
Diamond Member
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 letās 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 thereās a way in which even a nominally strong economy can still have you feeling pessimistic. I just ā I mean, I just look at my own circumstances. I have a good job with a good salary. But Iām 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 itās not that people arenāt necessarily responding rationally, theyāre just looking at the longer term?
carlos lozada
Iām just saying that those are rational concerns, right, depending on your time horizon.
paul krugman
My last newsletter was called āBelieving is Seeing,ā and itās definitely the case that a lot of votersā 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 whatās actually going on. And itās really clear in the economic data. Itās really clear on views on crime.
Now, should everybody be feeling happy and comfortable and at no risk? No, of course, not. There is ā 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 doesnāt have to be AI. It doesnāt have to be robots. It can be anything. But itās hard to really think that the amount of risk and uncertainty is greater now than itās been pretty much since the Industrial Revolution.
ross douthat
I mean, I think itās worth speaking up for the theory that I know Paul disagrees with, to some extent, that people just really donāt like inflation in a way that lingers in polling data and peopleās perceptions of the economy, even after the headline number inflation rate has come down.

