Category: Paul Krugman

Is China in Big Trouble?

These are scary times in America, with one of our major parties careening into authoritarianism and the other having difficulty moving forward thanks to two uncooperative senators. Most of what I write, inevitably, focuses on the troubled prospects for our republic. But everyone needs a break. So today I want to talk about a happier topic: The risks of an economic crisis in China.

OK, not exactly happier.

Read original

Read More

Joe Manchin Versus West Virginia on Climate and Child Care

President Biden’s policy agenda is hanging by a thread. And the reason can be summarized in two words: Joe Manchin. (Well, also Kyrsten Sinema, but does anyone know what’s going on with her?)

Manchin, the Democratic senator from West Virginia — whose vote is essential given scorched-earth Republican opposition to anything Biden might propose — is reportedly against the Read original

Read More

A Deserved Nobel Economics Prize Reminds Us Facts Matter

Nobel Memorial Prizes in economics are given for long-term research, not for economists’ role in current debates, so they don’t necessarily have much bearing on the political moment. You might expect the disconnect to be especially strong when the prize is given mainly for the development of new research methods.

And that’s the case for the latest prize, Read original

Read More

Wonking Out: Coins and Credibility

Franklin Roosevelt took the United States off the gold standard soon after his inauguration as president in 1933. It was an essential move: The nation was in the midst of a banking crisis, and to end that crisis the Federal Reserve needed the freedom to print money as needed. But even some of Roosevelt’s own aides were aghast: Lewis Douglas, his budget director, reportedly Read original

Read More

What if Things Are About to Get Better?

That was the summer of our discontent. Early this year many of us were expecting to see dramatic improvements in the quality of our lives. Miraculous vaccines offered the hope of a quick end to the pandemic and a return to normal life. The return to normality would, we hoped, also set the stage for a rapid economic rebound. When President Biden predicted a “Read original

Read More

Worried About Low Interest Rates? Jane Austen Can Help.

The Federal Reserve and its counterparts abroad slashed interest rates in the face of the 2008 financial crisis and have kept them very low — in some cases below zero — ever since. This isn’t an arbitrary policy: Central banks believe that they need to keep rates low to avoid sliding into recession. But there has long been bitter criticism of low rates, coming from both the right and the left.

Read original

Read More
Loading

Recent Comments