Tuesday , May 24 2022
Home / Video / How economists are getting inflation wrong (even Paul Krugman)

How economists are getting inflation wrong (even Paul Krugman)

Summary:
Economists are failing to understand the current inflation spike and as a result, also failing to provide adequate policy responses to it. In a recent survey by the University of Chicago, the majority of academic economists did not believe the increasing monopoly power in the US economy has any role in explaining inflation, or that policies such as targeted price controls would work (which even Paul Krugman called "stupid"). Will my dismal "science" even manage to think outside the free market box?

Topics:
Paul Krugman considers the following as important:

This could be interesting, too:

Sam Abbott writes Child care costs are going to rise, but policymakers can help U.S. families manage these increases

Peter J. Fugiel writes New research shows unstable schedules do not offer more flexibility for U.S. workers

Simon Wren-lewis writes When did things go wrong, 2010 or 1979?

FT Alphaville writes Further reading

Economists are failing to understand the current inflation spike and as a result, also failing to provide adequate policy responses to it. In a recent survey by the University of Chicago, the majority of academic economists did not believe the increasing monopoly power in the US economy has any role in explaining inflation, or that policies such as targeted price controls would work (which even Paul Krugman called "stupid"). Will my dismal "science" even manage to think outside the free market box?
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.

Leave a Reply

Your email address will not be published. Required fields are marked *