Paul Krugman debunks his own papers praise of Trumps war on environmental regulation [View all]

[turbinetree]

On Monday, the New York Times published an absurd piece about President Donald Trump’s war on health and environmental regulations, ignoring the terrible human cost of Trump’s effort while claiming it is boosting business investment.

The front-page story is so egregious that one of the the paper’s leading columnists, Nobel prize-winning economist Paul Krugman, eviscerated it in a series of tweets on Tuesday morning.

The original piece claims that U.S. businesses are supposedly investing more in factories and equipment because Trump is rolling back existing regulations and promising to minimize new regulations.

“There is no evidence — none — that regulation actually deters investment,” Krugman tweeted, linking to Monday’s piece.

-snip-


This is the exact opposite of reality. Krugman himself points out that “some kinds of regulation actually promote investment. Climate change policy should encourage renewables and conservation spending; Trumpist denial encourages just keeping the old coal plants.”

Precisely. Regulations encourage investment and innovation, something the Trump administration is working overtime to thwart. This could cost Americans millions of jobs.

https://thinkprogress.org/krugman-debunks-times-trump-praise-0506031bfd27/