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The Brian Lehrer Show

Paul Krugman Looks Back

Dec 18, 2024
Paul Krugman, a Nobel laureate in economics and New York Times columnist, reflects on his impactful career. He discusses the evolving public sentiment from hope to distrust, influenced by events like the Iraq War and the 2008 financial crisis. Krugman analyzes the rise of cacistocracy and the populist movements on both ends of the political spectrum. He also addresses misconceptions surrounding inflation and examines healthcare challenges in the U.S., offering insights and hope for the future amidst a complicated political landscape.
20:17

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Quick takeaways

  • Public sentiment has shifted from optimism in the late 1990s to pervasive resentment due to trust erosion in institutions.
  • The changing media landscape contributes to narrative distortions, affecting public perception and complicating responses to economic challenges.

Deep dives

The Evolution of Public Sentiment

Public sentiment shifted significantly from the optimism of the late 1990s and early 2000s to a climate of resentment today. In 2000, a booming economy and low unemployment led many to feel hopeful about the future, with people taking prosperity for granted. However, events such as the Iraq War and the 2008 financial crisis caused widespread disillusionment, as the public discovered that elites in power didn't possess the foresight or honesty they had assumed. This decline of trust in government and financial institutions has contributed to the pervasive anger and skepticism seen in society today.

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