Paul Krugman on Crisis Causality
- 6 years ago
An economic crisis is always a possibility, Krugman says.
Question: Is there a bigger economic crisis looming?
Paul Krugman: Well that's always a possibility. This is one of the fields . . . This is one of my core fields. But I'll tell you. One thing you learn from that is the really big economic crises always come from a direction you didn't anticipate at all. So once in a while . . . Argentina 2002 happened to be a crisis completely foretold. You could see it coming. You could see the shape. But I don't see a really severe economic crisis unless, you know, if we bomb Iran and oil goes to $150 a barrel. Then you can give me terrible things. But I don't see it right now.
Question: Is there a bigger economic crisis looming?
Paul Krugman: Well that's always a possibility. This is one of the fields . . . This is one of my core fields. But I'll tell you. One thing you learn from that is the really big economic crises always come from a direction you didn't anticipate at all. So once in a while . . . Argentina 2002 happened to be a crisis completely foretold. You could see it coming. You could see the shape. But I don't see a really severe economic crisis unless, you know, if we bomb Iran and oil goes to $150 a barrel. Then you can give me terrible things. But I don't see it right now.
Question: Is there a bigger economic crisis looming?
Paul Krugman: Well that's always a possibility. This is one of the fields . . . This is one of my core fields. But I'll tell you. One thing you learn from that is the really big economic crises always come from a direction you didn't anticipate at all. So once in a while . . . Argentina 2002 happened to be a crisis completely foretold. You could see it coming. You could see the shape. But I don't see a really severe economic crisis unless, you know, if we bomb Iran and oil goes to $150 a barrel. Then you can give me terrible things. But I don't see it right now.
Question: Is there a bigger economic crisis looming?
Paul Krugman: Well that's always a possibility. This is one of the fields . . . This is one of my core fields. But I'll tell you. One thing you learn from that is the really big economic crises always come from a direction you didn't anticipate at all. So once in a while . . . Argentina 2002 happened to be a crisis completely foretold. You could see it coming. You could see the shape. But I don't see a really severe economic crisis unless, you know, if we bomb Iran and oil goes to $150 a barrel. Then you can give me terrible things. But I don't see it right now.