Nobel economist Paul Krugman mocks Republican candidate Vivek Ramaswamy as ignorant on economics

[Yo_Mama_Been_Loggin]

Entrepreneur and Republican primary candidate Vivek Ramaswamy's views on economic policy are dividing opinion across the spectrum.

-snip-

His latest idea is to shake up the Federal Reserve – the institution which he believes is responsible for choking wage growth by increasing interest rates.

-snip-

In response, Nobel-prize winning economist Paul Krugman took aim at the Republican candidate, mocking Ramaswamy's understanding of economics.

-snip-

"Rich men in general, and tech bros in particular, are often under the delusion that they have deep insights into monetary economics, usually coming from what they vaguely remember from Atlas Shrugged."

https://www.msn.com/en-us/money/markets/nobel-economist-paul-krugman-mocks-republican-candidate-vivek-ramaswamy-as-ignorant-on-economics/ar-AA1fyH4b

[Ray Bruns]

1. "usually coming from what they vaguely remember from Atlas Shrugged." Ouch!

That’s what we need. Another ignorant billionaire blow hard know nothing in the White House. Because that worked out so well in 2016.

[AltairIV]

3. Agreed.

Agree completely. And that quote got an audible ouch from me.

[yardwork]

2. Burn!

[B.See]

4. The same Vivek Ramaswamy who presumed to lecture Don Lemon on Black history I presume?

AND who only RECENTLY called Juneteenth an "useless holiday"? THAT Vivek Ramaswamy??

GOP presidential candidate Vivek Ramaswamy calls Juneteenth a 'useless' holiday 2 months after he said the holiday should be a 'celebration of the American Dream'


Don Lemon’s response to Vivek Ramaswamy was right, says Ro Khanna

During an April 19 exchange on “CNN This Morning,” Ramaswamy, 37, argued that Black Americans had received equal rights after the Civil War and with the help of the National Rifle Association.

Khanna said he was “profoundly embarrassed by Vivek lecturing a Black man about Black history.”

“The truth is that the Black civil rights movement paved the way for the 1965 immigration act so that Vivek’s family or mine could come to America,” Khanna tweeted

Yet another POC shilling for white supremacist talking points, imo.

[maxsolomon]

5. Liberals are so mean.

Instead of mocking, we should treat all the BS Republics spew with the utmost seriousness. No one likes mocking; they'll vote against you out of spite.

[littlemissmartypants]

6. Vivek Ramaswamy is being sued...

Republican presidential candidate and businessman Vivek Ramaswamy is facing two lawsuits from former employees who say they were aggressively pressured into violating securities laws, according to Bloomberg, which first reported these lawsuits Friday

https://www.newsnationnow.com/politics/2024-election/ramaswany-biotech-millionaire-gop-candidate/

[Ford_Prefect]

7. Original and complete article by Joseph Wilkins at Business Insider found here.

https://www.businessinsider.com/krugman-mocks-republican-candidate-ramaswamy-as-ignorant-on-economics-2023-8.

Just FYI. I like original sources best since reposting on MSN and other news digests often gets edited for clickable headline or content.

[ancianita]

18. +1

[mopinko]

23. same w rawstory.

even if it werent a fugly site, they’re drafting on other’s work.

[Old Crank]

8. My wife worked with some of these

Texh bros. They happened to hit the lottery with a startup and now were all greater than god.
You needed to bow down to these 10Xers.
Way too many conflated having been in at a start up early with brilliance in everything else.
Most of these guys, and they are mostly guys, job hoped from start up to start up until one hit it big or was bought by some one bigger.

[SWBTATTReg]

9. I love some of these answers, the monetary policy that these rich men know extend only to

the tax rate/the tax policies that they have to pay, deal with. Nothing else. You can always tell too, by simply asking any of them a detailed question about tax policies and none of them will answer the question, will sidestep the question, etc. Just like tRUMP does.

All it does is prove just how dumb they are.

And yes, I realize that not all are versed in the tax policies surrounding various economic activities (who is 100%, that's why we have 'tax experts' in many different fields).

And yet, society continues to hold these people above board as 'experts' in tax policies, taxing issues, etc.

[TheRealNorth]

10. Surprised the dude is whining.....

Because the Fed raised interest rates to slow interest rates (which could also affect wage growth).

My guess is that is just red meat for the rubes and that he has no issue with the Fed adopting policies to keep wages low.

[kwijybo]

11. VR isn't very bright, anyways

He thinks that the way to solve the GOP's problem interacting with the younger generation is to STOP the younger generation from voting! Yes, he thinks changing the voting age from 18 to 25 will help get the younger generation to like the GOP

[spooky3]

15. And he apparently skipped Sesame Street when they described

How constitutional amendments are decided upon.

[efhmc]

25. School house Rock.

[rickford66]

12. Who is John Galt ?

[PortTack]

13. Ignorant in foreign policy, race relations, how a political body works and on and on!

[onetexan]

14. Swampman is ignorant on many levels, not just the economy.

[Hekate]

16. Epic burn. I love Paul Krugman to bits.

“Rich men in general, and tech bros in particular, are often under the delusion that they have deep insights into monetary economics, usually coming from what they vaguely remember from Atlas Shrugged." ~~ Paul Krugman ~~

[Johonny]

17. What Republican politician is for wage growth?

None that I can recall.

[Ford_Prefect]

19. None of them feel compassion because none of them were ever in financial need of any kind.

[Skittles]

20. ooh, SNAP!

yes INDEED

[Eugene]

21. Mr. Ramaswamy also appears ignorant on American history, US foreign policy, the US military, ...

American conservative politics...

[NowISeetheLight]

22. Atlas Shrugged

Atlas Shrugged = I got mine screw everyone else

[stuck in the middle]

24. Atlas Shrugged

"Rich men in general, and tech bros in particular, are often under the delusion that they have deep insights into monetary economics, usually coming from what they vaguely remember from Atlas Shrugged."

I haven't read the book, but here's the movie:



Atlas Shrugged

Atlas Shrugged: Part II

[lindysalsagal]

26. All gqp candidates lack governing skills. No one with skills would

Run on the gqp team. Assume they're head cases, gangsters, idiots, or all 3.