Prof G Markets The Economic Risks Keeping Paul Krugman Up at Night
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Dec 5, 2025 
In this engaging conversation, Paul Krugman, a Nobel Prize-winning economist and professor at CUNY, shares his deep concerns about the current economic landscape. He highlights the affordability crisis, with rising living costs overshadowing modest wage gains. Krugman also critiques the White House's AI policy and warns of potential economic downturns reminiscent of past recessions. He emphasizes the risks of tech concentration and discusses the urgent threats posed by climate change and democratic erosion, all while reflecting on the evolving media landscape.
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Tariffs And AI Collide
- 2025 is unusual because high tariffs and an AI boom are colliding to reshape the economy.
- Paul Krugman warns this interaction makes the year's economic experiment especially messy.
Headlines Mask Real Affordability Issues
- Real median wages adjusted for CPI are slightly up since pre-pandemic, so headline poverty claims mislead.
- Krugman stresses hidden problems: high interest costs, frozen job mobility, and first-home affordability.
Poverty Line Is Imperfect But Functional
- Official poverty thresholds are antiquated but serve policy functions tied to programs.
- Krugman argues measuring social exclusion matters more than arbitrarily redefining the poverty line.