Inflation Debate between Paul R. Krugman and Lawrence H. Summers - Part II
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Published 2022-01-21
Krugman is Professor Emeritus at Princeton University, the Distinguished Professor of Economics at the Graduate Center of the City University of New York, a columnist at the New York Times, and a 2008 recipient of the Nobel Prize in Economics.
Summers is a University Professor and President Emeritus of Harvard University, a former U.S. Treasury Secretary, and former Chief Economist at the World Bank.
All Comments (21)
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Isn’t it great when someone admits they were wrong. That’s how we learn.
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If you're looking for the first debate, search for A Conversation with Lawrence H. Summers and Paul Krugman uploaded Feb 12, 2021 on the same channel.
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The Fed printed $5 trillion and helicopter dropped it on everybody...nobody could have seen this inflation(expansion of currency supply) coming?!? And this guy is a Nobel prize economist! WTF
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You need to have Peter Schiff debate Paul Krugman. It would be a blood bath.
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Is there a written transcript? Forgive me, when was the first debate?
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Very good talk
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I always enjoy listening to Paul and Larry. But let's face it you do need some training in basic macro to follow the thoughts they have in the back of their mind!
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All I hear is Krugman hiding behind his imperfect models. The dude talks a lot but says very little
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What I would like to understand is the relationship between money creation, credit creation, interest rates and inflation. Private banks and central banks are allowed to convert debt (credit) into money. We have gone through a period of extensive credit creation and money creation - predominantly by the Federal government borrowing (to pay stimulus payments) and the Fed engaging in quantitative easing. Had the Fed not expanded its balance sheet interest rates would have risen. Does the current structure of interest rates accurately reflect the underlying time preferences of private actors?
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Did this Paul Krugman ever correctly predict something in macroeconomic?
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Ty
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Don’t you just love it when people who never were right on anything are telling you how the world works…?
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I will raise a simple question: if a respected economist gets a prediction dead wrong, when other economists and even laypeople found it logical to predict the opposite, does that say something about the respected economist? How many such prediction can the respected economist get wrong before they are discredited?
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Why would the FED buy MBS? They might as well buy stocks directly.
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Imagine if this is what political debates looked like.
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Summers really wants to show krugman that he agrees a lot with him. I think he wants to make friends again.
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Does anyone in this "debate" actually say anything useful? Who cares who guessed right and who didn't? I'm struggling to hear any kind of explanatory framework that even holds water.
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It's laughable that Paul Krugman starts by acknowledging his "mistake" before listing all the reasons why he was right!
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Two old guys who are still wrong!
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Does the average person really understand how bad "supply chain issues" are??
