CandleFocus ‘Financially Illiterate’? Social Media Erupts as Paul Krugman Leaves New York Times
2024-12-08
Author: Content Editor
American economist Paul Krugman retired from his role as an opinion columnist for the New York Times after nearly 25 years, sparking criticism and accusations of repeatedly inaccurate economic predictions. Krugman, known for his contributions to international trade theory and macroeconomics, has faced backlash for his shifting viewpoints and overtly political stance. Critics argue that his advocacy for interventionist policies neglects long-term downsides. Krugman's past misjudgments, such as downplaying the economic potential of the internet, have been highlighted as examples of his consistent inaccuracies. Additionally, Krugman has been a vocal critic of Bitcoin and cryptocurrency, comparing them to Ponzi schemes, despite their increasing utility and importance. Many have questioned why Krugman remains popular among Democrats despite his track record of being wrong on multiple occasions.
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