In 2008, Paul Krugman was awarded the Nobel Prize in Economics. It was the ultimate gesture of thanks for his years of work and expertise in the field.
But for most of us, the gesture more closely resembled a big, fat middle finger. Because what the Committee was basically saying to the rest of the world was that they were willing to give a complete dunderhead $1.4 million for being not only wrong, but for espousing genuinely terrible policy ideas whose implementation results in us getting more of our own money taken away.
And today, Paul Krugman is still around, still being looked to — and paid handsomely — for his economic expertise despite admittedly having no idea what the hell he’s talking about:
.@paulkrugman on getting inflation wrong: "Partly it’s that there is stuff that I didn’t — that nobody saw coming. Nobody saw Putin invading Ukraine. I think nobody thought about logistic supply chains or any of that stuff until suddenly it became a big problem." pic.twitter.com/F4nprqImlu
— Tom Elliott (@tomselliott) July 21, 2022
Ah, yes. If only there had been some indication, some kind of warning, that Vladimir Putin had designs on invading Ukraine.
https://t.co/JL5V9dB1ZC pic.twitter.com/WYkzTRRVmF
— Stephen L. Miller (@redsteeze) July 21, 2022
If only someone had considered how response to the COVID pandemic would affect supply chains and how supply chain issues would contribute to inflation.
Nobody thought firing truck drivers for not getting shots could affect the supply chain
— Alvaroidz (@Alvaroidz) July 21, 2022
The only thing Paul Krugman consistently excels at is failing.
Recommended
"Nobody thought about logistic supply chains"?
The depressing thing is that based on what we've seen, he might be right. https://t.co/jS4KeR0QHU
— Mark Hemingway (@Heminator) July 21, 2022
The New York Times is not sending their best. Actually, you know what? They are sending their best. And that’s what’s really scary.
Krugman went to MIT and Yale.
I'm just a blonde that went to a state school, but I knew printing money and dumping it into the economy could cause inflation.
I was tweeting about inflation when Trump was President. I said inflation was a risk from massive stimulus. https://t.co/AX0IhaffBg
— Andrea Katherine (@AndreaKatSTL) July 21, 2022
"Partly it’s that there is stuff that I didn’t — that nobody saw coming" – um, this is a narrative for your long career of getting it wrong, @paulkrugman. https://t.co/8izjvQEf0X
— Sister Toldjah 🌻 (@sistertoldjah) July 21, 2022
Hey, Paul Krugman … what would you say you do here?
Krugman is the best. pic.twitter.com/bnMOMQSawG
— Gert B. Frobe (@ThumblessGrasp) July 21, 2022
Uh, Paul. You're an economist.
This is YOUR ONE JOB.
How do you get it wrong and still get paid?
And if all economists got it wrong, why do we keep having these departments in academia?
— AmishDude (@TheAmishDude) July 21, 2022
***
Related:
Paul Krugman’s 2020 hot take on what the Biden economy would bring is coming back to burn him
THERE it is! Paul Krugman goes all-out for a Ron Klain retweet with this spin on inflation
Join the conversation as a VIP Member