Column from Paul Krugman that begins asking why some rich Silicon Valley elites are supporting the kooky Robert F. Kennedy Jr. and ends in a different place. Are they just cynically using him to undermine the Democratic Party, or do they sincerely believe the crazy things they're saying?

Krugman argues that it's at least partly the latter, that rich elites are disproportionately likely to be crazy, and for an interesting reason: they're unusually likely to fall victim to reflexive contrarianism, because it was part of their success.

“One sad but true fact of life is that most of the time conventional wisdom and expert opinion are right; yet there can be big personal and social payoffs to finding the places where they’re wrong. The trick to achieving these payoffs is to balance on the knife edge between excessive skepticism of unorthodoxy and excessive credulity.

It’s all too easy to fall off that knife’s edge in either direction.”

https://www.nytimes.com/2023/07/06/opinion/robert-kennedy-jr-silicon-valley.html

#krugman #politics #SiliconValley #contrarianism

https://www.nytimes.com/2023/06/05/opinion/ukraine-war-d-day.html?smid=nytcore-ios-share&referringSource=articleShare #Krugman #Ukraine #Democracy #DDay #NYTOpinion

Nobel economist Paul #Krugman slams #crypto as mostly useless, after saying it's hugely overpriced and helps criminals https://markets.businessinsider.com/news/currencies/paul-krugman-crypto-bitcoin-price-bubble-crime-cbdc-desantis-banks-2023-5

The Mighty Krug-Man! #krugman #PaulKrugman

Former politicians and officials who supported the interests of the wealthy find comfortable sinecures at billionaire-supported lobbying firms, think tanks and media organizations. These organizations also help shape what military analysts call the “information space,” defining public discourse in ways that favor the interests of the superrich.

https://www.nytimes.com/2023/04/17/opinion/plutocrats-power-trump.html

"After the 2008 financial crisis, it took 12 years for employment rates to get back to pre-crisis levels. But only three years after Covid struck, employment is fully back for almost every age and demographic group."

This employment report should have a Biden "I did that" sticker on it.

#Krugman #Economics #Employment

https://www.nytimes.com/2023/04/10/opinion/the-meaning-of-an-awesome-employment-report.html

[en] Prof. Krugman: "The Internet" and New Tech, May Not Boost Productivity That Much

According to Paul Krugman, winner of the Nobel Memorial Prize in Economic Sciences, new technologies may not be promising as we might have thought, e. g. "the Internet".

"See the great productivity boom that followed the rise of the internet? Neither do I."

https://www.nytimes.com/2023/04/04/opinion/internet-economy.html

#productivity #internet #krugman #economic #economics #ai #ict #it

Over on Twitter, Krugman has a thread about how the Medicare hospital trust fund is in great shape, for a horrific reason: so many older Americans died in the pandemic, far more than in other advanced nations.

#Krugman #LifeExpectancy

https://twitter.com/paulkrugman/status/1642139795534016513?cxt=HHwWgsCzhbLchsotAAAA

"Predictions of a steep recession and runaway inflation are wrong, Paul Krugman said in an op-ed.

The top economist said inflation is falling more rapidly than the Fed thinks.

The Fed, however, still risks causing a recession if it tries to respond to "imaginary" stagflation. "

Fed Risks Recession Responding to 'Imaginary' Stagflation: Krugman
https://markets.businessinsider.com/news/stocks/paul-krugman-recession-inflation-us-economic-outlook-stagflation-debt-crash-2023-2

#krugman #us_economy

Economist Paul #Krugman: Why 'rural resentment' fails the 'scrutiny' test https://www.alternet.org/why-rural-resentment-fails-scrutiny/

Glad to see #Krugman @pkrugman is down with the platinum coin to avoid the debt ceiling #MintTheCoin

Safe to say that Nobel laureate #Krugman,Paul is NOT a fan of #MadElon and his style of management by fear.

«Paul Krugman has compared #Tesla stock to bitcoin, saying hype and faith underpin both assets' valuations, and joked he wouldn't trust Elon Musk to take care of his cat.»

Hype and faith - also typical for religious cults, and Musk's fanboy often sound like cultists.

Quote taken from this article:
https://markets.businessinsider.com/news/stocks/paul-krugman-tesla-stock-price-bitcoin-elon-musk-twitter-network-2022-12

This, from #Krugman, is very well put, and exactly what I feel about Musk's damage to Tesla's reputation.

Mighty #Krugman

...given what we’ve seen of Musk’s behavior, I wouldn’t trust him to feed my cat, let alone run a major corporation.

https://www.nytimes.com/2022/12/27/opinion/tesla-stock-elon-musk.html

Economist Paul #Krugman: Why the latest inflation news is 'seriously encouraging' https://www.alternet.org/economist-paul-krugman-why-the-latest-inflation-news-is-seriously-encouraging/

"given what we’ve seen of Musk’s behavior, I wouldn’t trust him to feed my cat, let alone run a major corporation."

#Krugman on #Musk
#crypto
https://www.nytimes.com/2022/12/27/opinion/tesla-stock-elon-musk.html

Nobel Prize Laureate Paul Krugman Warns of an Eternal Winter for Blockchain - Nobel Prize-winning economist Paul Krugman has warned about the possibility of a p... - https://news.bitcoin.com/nobel-prize-laureate-paul-krugman-warns-of-an-eternal-winter-for-blockchain/ #australianstockexchnage #nordicfimbulwinter #krugmanblockchain #krugmanbitcoin #filmbulwinter #nobellaureate #paulkrugman #blockchain #krugmanbtc #bitcoin #krugman #crypto #maersk #news #ftx

https://elements.visualcapitalist.com/mapped-global-energy-prices-by-country-in-2022/
#energy #energycosts #krugman
Data to support those claims that energy costs are out of control (spoiler alert - Americans should probably back off quite a bit). Well done again Visual Capitalist!

#Blockchains, What Are They Good For?

Un monumentale Paul #Krugman sul NYTimes, qui trovate l'articolo completo 👇

https://lnkd.in/d-8jGNPh

#blockchain #decentralizzazione

Capitol Hill Babysitting Co-op

https://en.m.wikipedia.org/wiki/Capitol_Hill_Babysitting_Co-op

#economy #currency #recession #krugman #capitolhill #scrip #allegory

Interest rates probably won't stay high, top economist Paul Krugman wrote in an op-ed.

Interest rates probably won't stay high, thanks to a shrinking US workforce and a tech industry in the throes of a midlife crisis, according to Nobel laureate Paul Krugman.

Read.

https://markets.businessinsider.com/news/stocks/paul-krugman-interest-rates-inflation-tech-investment-demand-labor-crisis-2022-11

#krugman #nyt #economy #recession #labormarket #interestrates #tech #techsector