Establishment-favorite economist Paul Krugman has declared the obvious: “I was wrong about inflation.”
Issued from his prestigious perch at The New York Times , Krugman’s confession centers on what he describes as an early-2021 economic debate over the consequences of the $1.9 trillion American Rescue Plan Act enacted on March 11 of that year: “Some warned that the package would be dangerously inflationary; others were fairly relaxed. I was Team Relaxed. As it turned out, of course, that was a very bad call.” For those of us who’ve been right about inflation, the satisfaction of Krugman’s mea culpa doesn’t […]
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