Krugman is a worthless hack. Sensational headline with implicit endorsement of prohibition is a prime example.
Edit about the “nobel”: Everybody who’s talking about this “nobel prize”. There is no nobel prize in econ. It’s a phony award made up by bankers. That’s how pathetic the pseudo-science of economics is. They need to make up their own fake awards for relevancy. So please don’t tout the phony awards of this pseudo-scientists. I could make up an award for flat earthers but that wouldn’t legitimize flat earthism.
(And even if there were a nobel for econ… Who cares about awards if the underlying “science” is still trash?)
I included a timestamp to jump (almost) directly to the most relevant bit (also 33m, but 31m sets up a better context for an extra 2min of time compared to going directly to the 33m mark). But the whole video is worth watching.
Being one of the best paid traders in the world does not necessarily qualify you to advise the government… There are plenty of morons who (for some time) are able to make a killing as a trader due to taking excessive risks and being sufficiently lucky for some stretch of time.
Krugman is a worthless hack. Sensational headline with implicit endorsement of prohibition is a prime example.
Edit about the “nobel”: Everybody who’s talking about this “nobel prize”. There is no nobel prize in econ. It’s a phony award made up by bankers. That’s how pathetic the pseudo-science of economics is. They need to make up their own fake awards for relevancy. So please don’t tout the phony awards of this pseudo-scientists. I could make up an award for flat earthers but that wouldn’t legitimize flat earthism.
(And even if there were a nobel for econ… Who cares about awards if the underlying “science” is still trash?)
Here’s one of the best traders talking about the same issue:
https://invidious.nerdvpn.de/watch?v=bMK8ct6ybjQ&t=1918
It’s eloquent and funny at the same time.
I included a timestamp to jump (almost) directly to the most relevant bit (also 33m, but 31m sets up a better context for an extra 2min of time compared to going directly to the 33m mark). But the whole video is worth watching.
Yes, Krugman is a hack.
Being one of the best paid traders in the world does not necessarily qualify you to advise the government… There are plenty of morons who (for some time) are able to make a killing as a trader due to taking excessive risks and being sufficiently lucky for some stretch of time.