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Paul Krugman on the Future of the Economy [CC]

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  1. Circa 41:30, there is some truth to the statement that Democrats make a bigger deal of national debt when there is a Democrat in the White House. Worry about the debt was pretty bipartisan after the GFC. The reason is that Deomcrats do what Republicans tell them to.

  2. Mr Krugman, you live in a different world. Social Security- it's broke, inefficient, and regressive. It takes from the poor to give to the rich. If people could invest SS like their own money, it would make 7% over the long haul. The post office is one of the worst run institutions- UPS & Fedex operate much better because they can hire & fire the people they need to. Same with Amtrak, the VA, the national highway system, NASA, FDA and many others. So with that record of success, you want a takeover of healthcare and education?

  3. Is this the same Paul Krugman that predicted the internet would never change our economy and that the market would tank as soon as Trump was elected?

    If you want to make a lot of money in the market, listen to Paul Krugman and then do the opposite of what he says.

  4. Here in Canada, if I am sick or injured I can go to any hospital in the country and receive world class health care for free. The USA would love to see Canada privatize our healthcare system for all the wrong reasons. If Krugman did his research, he would discover the vast majority of Canadians appreciate and are very satisfied with our universal healthcare coverage.

  5. We try to say that all "men" are created equal, but that is not the case. If you start out poor your chances of accumulating a lot of money while someone else starts out with dad's fortune , things are neither fair nor equal. The rich justify that by calling it the "death tax."

  6. You are very wrong about robotics or better said AI taking over jobs quickly now. It may not be statistically at this minute increasing but when it really hits it will be a steam roller on cocaine running over the world. The auto industry is the leader hear taking over the trucking industry and the transportation industry. More are on their way!

  7. He has learned to have less faith in markets. He must becoming Irish and European. Oh, we tend to have a good society and far more fair and effective that the US.

  8. Monetary policy by Central Banksters, and Fiscal policies by the Government have caused ALL of the problems the economy now faces.  The virus is just the PIN that popped the bubbles created by the Central Banksters and the US Government.

    Keynesian economists generally argue that as aggregate demand is volatile and unstable, a market economy often experiences inefficient macroeconomic outcomes in the form of economic recessions (when demand is low) and inflation (when demand is high), and that these can be mitigated by economic policy responses, in particular, monetary policy actions by the central bank and fiscal policy actions by the government, which can help stabilize output over the business cycle.[6]Keynesian economists generally advocate a managed market economy – predominantly private sector, but with an active role for government intervention during recessions and depressions.

  9. I was right there with you Paul when you said Sanders is not a Socialist. Then you lost me when you attempted to describe socialism. I believe you described what is called "State Capitalism," where the Government Bureaucrat replaces the private owner and assumes his/her role. Capitalism is still in place, workers simply have a different boss. The key fundamental of Socialisms critique of Capitalism was the employer/employee relationship. Socialisms final solution was to have employees own the business/factory or modes of production and eliminate the single private owner of capital, who exploits employees labor to obtain a profit. Essentially, the goal was to bring Democracy into the workplace, where people spend most of their adult lives, giving each employee one vote as joint owners of the company. This allows the workers to decide what to produce, how to produce, where to produce, and what to do with the surplus. Under this system, I doubt the workers would vote to move their jobs to China, pollute their community, or pay one employee 300 times more then the lowest paid employee.

    This is why the elites hate/fear Socialism so much. It cuts off their power at the head. These elites would do whatever it takes to resist socialism. Fascism is usually the oligarchs last weapon of choice, when propaganda fails. But others, such as Otto Von Bismarck and Roosevelt, enacted a type of welfare state to keep the socialist at bay and maintain the capitalist system. This is why we need social Democrats like Sanders, to create policies like Universal Health care, public Colleges, and a progressive tax system to act as a relief valve to curb some of capitalisms harmful externalities. If not, we get Fascism.

  10. As an Economics teacher I think your economics is spot on Paul, but your political bias is absolutely appalling as well as your host. Just by his question, "what is it going to take to beat Donald Trump in November?" Go ahead and put either one of your losers (Joe or Bernie) up against Trump. You're smarter than this Paul.

  11. Krugman's good,qualified and accomplished.we all need to understand economics or we pay the price…unfortunately it's too deep for most of the morons in our country.

  12. 31minutes in. Yes, but on the green new deal and carbon tax, wouldn't a carbon tax cause an economic incentive in alternative energy development? And I think a carbon tariff would be a lot harder to implement than a carbon tax. Maybe not harder to get approved but harder to accurately and effectively implement. It's easier to put a direct tax on energy, gasoline and electricity, and tie a unit of energy or a volume of fuel to a direct amount of co2 that it emits into the atmosphere than a shoe or a cell phone, or an automobile.

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