Human Action Podcast listeners can get a free copy of Murray Rothbard’s Anatomy of the State: https://Mises.org/HAPodFree
Ivory Tower economists continue to tell us that the US economy is booming, but consumers disagree. Paul Krugman has a new explanation for the economic gloom: Republicans. In a recent New York Times article, Krugman touts that partisanship and media bias drive a wedge between consumer sentiment and economic reality. But is this actually what’s going on?
Dr. Jonathan Newman is back with Bob to break down Krugman’s shifting economic predictions and to consider the trajectory of the US economy.
Krugman’s NYT Article from 2021 on Inflation: https://Mises.org/HAP425a
Krugman’s NYT Article on Begin Wrong About Inflation: https://Mises.org/HAP425b
Jonathan and Bob’s HAP Episode on The Fed’s ‘Soft Landing’: https://Mises.org/HAP425c
Chapters
00:00 Introduction
01:40 Is Inflation Helping the US Economy?
05:24 Partisan Arguments about Economic Performance
09:16 Consumer Data Results
14:43 Krugman’s Double-Speak
27:47 Why Consumers Should be Nervous About the Economy
31:20 Krugman’s Bag of Tricks
37:07 The Shift in Left and Right Political Positions