Krugman tries to come off as an unbiased economist, but these days he's more of a political pundit.<p>I wrote about [0] his last piece where he criticized people worried about inflation ("cockroaches" as he called them). The biggest tell tale is when he showed the money supply growth but purposely cut off an uncomfortable spike in response to covid (YoY growth of money supply more than double what we have ever seen in the US).<p>He's more interested in dunking on his opponents than having a serious discussion about economic policy<p><a href="https://mleverything.substack.com/p/where-did-the-12-trillion-of-covid-59d" rel="nofollow">https://mleverything.substack.com/p/where-did-the-12-trillio...</a>
I knew it was Krugman just reading the title and domain. It's unfortunate that Paul often chooses to use such a smug, dividing, and patronizing tone. In these times we don't need more of that.<p>But it's the usual stereotyping and sensationalizing of "libertarian" argument:<p>"libertarian derp — assertions that fiat currencies, government-issued money without any tangible backing, will collapse any day now."<p>No, that's not the assertion. Or at least it's only one of them and Paul cherry-picked it. Another assertion is that fiat currency and its inflationary aspects are one of the main contributors to income inequality. (Or just go browse <a href="https://wtfhappenedin1971.com/" rel="nofollow">https://wtfhappenedin1971.com/</a> )