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Paul Krugman
Paul Robin Krugman (born February 28, 1953) is an American economist, Distinguished Professor of Economics at the Graduate Center of the City University of New York, and an op-ed columnist for The New York Times. In 2008, Krugman won the Nobel Memorial Prize in Economic Sciences for his contributions to New Trade Theory and New Economic Geography.

Paul Krugman

Donald and the Delusion Discount

The events of the past few weeks destroyed whatever credibility Donald Trump may still have had on economic policy. And investors are celebrating. At this point, evidence that Trump tweets are sound and fury signifying nothing is, in effect, good news.Let’s review what happened. First, having gone to great lengths to get a new trade agreement with Mexico and Canada — an agreement that was very similar to the existing agreement, but one he could slap his own name on — Trump basically blew up...

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Heroes of the Great Patriotic Trade War

I’d like to make an important announcement to New York retailers: NEW JERSEY HAS AGREED TO IMMEDIATELY BEGIN BUYING LARGE QUANTITIES OF WHITEFISH SALAD FROM OUR GREAT PATRIOT GOURMET MARKETS.What’s that you say? There was no such agreement? New Jersey doesn’t even have any kind of centralized purchasing mechanism for food products? I say fake news! Conspiracy by the deep state!O.K., you know that I’m not serious. But Donald Trump was serious when he tweeted this:ImageAlso, chocolate rations...

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Mar-a-Lago Comes for British Health

Probably everyone who followed Donald Trump’s visit to Britain has a favorite scene of diplomatic debacle. But the moment that probably did the most to poison relations with our oldest ally — and undermine whatever chance there was for the “phenomenal” trade deal Trump claimed to be offering — was Trump’s apparent suggestion that such a deal would involve opening up Britain’s National Health Service to U.S. private companies.It says something about the qualities of our current president that...

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Trump Makes America Irresponsible Again

Donald Trump’s plan to impose tariffs on Mexican exports unless our neighbor does something — he hasn’t specified what — to stop the flow of asylum-seekers is almost surely illegal: U.S. trade law gives presidents discretion to impose tariffs for a number of reasons, but curbing immigration isn’t one of them.It’s also a clear violation of U.S. international agreements. And it will reduce the living standards of most Americans, destroy many jobs in U.S. manufacturing, and hurt farmers.But...

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When a Traffic Ticket Costs $13,000

For most people living in America, transportation is central to daily life. About 83 percent of Americans report that they regularly drive a car multiple times a week. Yet millions of drivers across the country have had their licenses suspended — taking away their ability to drive to work, school, the grocery store or the doctor — essentially because they are poor.In 2014, Leah Jackson was ticketed for obstructing traffic in Otsego, Minn., after turning left at a red light. That kind of thing...

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After Draghi (Wonkish)

Mario Draghi’s term as president of the European Central Bank ends in October. It has been a tumultuous tenure; among other things, he very clearly saved the euro from collapse in 2012-13, which arguably makes him the greatest central banker of modern times.But I come not to celebrate Draghi but to ask about the state of the euro as the age of Draghi draws to an end. This isn’t a rant. I’ve long been a euroskeptic, and there has been immense suffering in Greece, and to a lesser extent in...

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Trump Tantrums the Dems Out of a Trap

I gotta say, it was very clever of Nancy Pelosi to steal Donald Trump’s strawberries, pushing him over the edge into self-evident lunacy.As everyone knows, Trump stormed out of a meeting on infrastructure, apparently out of uncontrollable rage over Pelosi’s remarks pointing out that the administration’s stonewalling on all fronts, including raw defiance of the law requiring that it provide the president’s tax returns, obviously amount to a coverup of something (and maybe multiple things.) And...

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Twitter Isn’t Real Life (if You’re a Democrat)

On Twitter during late 2015 and early 2016, Donald Trump’s front-runner status was evident, even if it hadn’t yet fully sunk in with the tribunes of conventional wisdom. Trump’s following far outstripped his rivals. His tweets drove news cycles, and channeled the resentments of a furious base. In October 2015, The New York Times described Twitter as a “powerful bulwark” of support during a shaky moment in Trump’s campaign, noting that he was retweeted twice as often as Hillary Clinton and 13...

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Killing the Pax Americana

O.K., they weren’t supposed to start the trade war until I got back from vacation. And I really have too many kilometers to cover and hills to climb to weigh in on a regular basis or at great length. But since I’m currently sitting in an outdoor cafe with my coffee and croissant, I thought I might take a few minutes to address two misconceptions that, I believe, are coloring discussion of the trade conflict.By the way, I don’t mean Trump’s misconceptions. As far as I can tell, he isn’t...

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Trump Is Terrible for Rural America

Economists, reports Politico, are fleeing the Agriculture Department’s Economic Research Service. Six of them resigned on a single day last month. The reason? They are feeling persecuted for publishing reports that shed an unflattering light on Trump policies.But these reports are just reflecting reality (which has a well-known anti-Trump bias). Rural America is a key part of Donald Trump’s base. In fact, rural areas are the only parts of the country in which Trump has a net positive approval...

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