Paul Krugman: It's still about "the economy, stupid" — and all the candidates are failing to address it adequately

Democrats and Republicans alike would empower the cranks in their party with their policies

By Scott Eric Kaufman
February 12, 2016 6:52PM (UTC)
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Paul Krugman at The Commonwealth Club (Commonwealth Club/Creative Commons License)

In his Friday column, the New York Times' Paul Krugman argued that we "should be a little frightened by how little many of the people who would be president have learned from the past eight years" of economic distress.

He wrote that while the situation is not nearly so dire as 2008, there are signs of future market turmoil -- and the policy positions held by the candidates on both sides of the aisle would either do little to help the situation, or actively make it worse.

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As for the latter, "[l]eading the charge of the utterly crazy is...Donald Trump," but John Kasich's balanced-budget amendment would also cripple the American economy. On the Democratic side,

both contenders talk sensibly about macroeconomic policy, with Mr. Sanders rightly declaring that the recent rate hike was a bad move. But Mr. Sanders has also attacked the Federal Reserve in a way Mrs. Clinton has not — and that difference illustrates in miniature both the reasons for his appeal and the reasons to be very worried about his approach...

Read the rest at the New York Times...

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Scott Eric Kaufman

Scott Eric Kaufman is an assistant editor at Salon. He taught at a university, but then thought better of it. Follow him at @scottekaufman or email him at skaufman@salon.com.

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Aol_on Elections 2016 Monetary Policy Paul Krugman