It would be easier to list all the times Paul Krugman has been correct.
Here… I’ll summarize:
Everything will come to its place if you replace the word “economist” with “fortuneteller” (“fool” is too rude)
Now, economic science deals with matters orders of magnitude simpler, and is centuries older than climate science.
I never went to college or even pretended to be an “economist” but I noticed that, when the Government spends large amounts of money or the Fed prints and puts more currency into circulation, the cash in my possession has substantially less value.
Economists are worse than weathermen no matter what their political leanings. It would have been a total guess to understand what the war in Ukraine and pandemic would eventually do to economies across the world. The Biden spending programs were whittled down so far to pass it’s impossible to know if they did anything.
Be still m racing heart, Elizabeth coming to join you! A lefty said he was wrong!
Milton Friedman is an economist. Here’s what he says about inflation and governments that print money to finance social programs and military adventurism …
"Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output.
Inflation is taxation without legislation.
Inflation is the one form of taxation that can be imposed without legislation."