I am a free market zealot and yes this is stupidDecember 31, 2021 Tim WorstallEconomics12 Comments I am not a free-market zealot. But this is truly stupid 1/ https://t.co/UonMU6M1nj — Paul Krugman (@paulkrugman) December 30, 2021 previousYeah, obviously, I mean innit?nextEfficient banking 12 thoughts on “I am a free market zealot and yes this is stupid” Steve December 31, 2021 at 9:32 am Actually she has a point. Isabella Weber is an assistant professor of economics at the University of Massachusetts Amherst First thing they should do is price control American college tuition back to 1970 prices. Delia December 31, 2021 at 9:39 am Paul Krugman’s opinion of the minimum wage is…? Tim Worstall December 31, 2021 at 9:57 am Largely correct. Low minimum wages aren’t a large economic problem, high ones are. Then of course – as with everyone – politics takes over in the discussion of “What is high”? philip December 31, 2021 at 12:49 pm Is an assistant professor someone who wipes the balckboard, or one who does acetual lecturing and stuff? Though come to think of it price controls are just dandy for eco-noloons. Price controls = no supply = no consumption = save the planet. PJF December 31, 2021 at 12:50 pm I am a free market zealot . . . . . . Low minimum wages aren’t a large economic problem Sergeant Wilson with a heavy cold level zeal. jgh December 31, 2021 at 2:31 pm Generally, the problem size of anything is proportional to the thing itself. A small cold is a small problem, small minimum wages are small problems, a large oil spill is a large problem, etc. It’s how you balance the ‘problemness’ against the ‘problemness’ of doing something about it that’s relevant. Agammamon December 31, 2021 at 3:25 pm Does . . . does Krugman think people think of him as pro-free market rather than as a bought and paid for hack? alastair harris December 31, 2021 at 4:05 pm the frightening thing is how many people believe this stuff TD December 31, 2021 at 4:31 pm “Low minimum wages aren’t a large economic problem, high ones are. Then of course – as with everyone – politics takes over in the discussion of “What is high”?” There is a simple. It is the point at which higher minimum wages start causing whites to lose jobs and not just black youths. No one seriously thinks that minimum wages don’t cause job losses, else they would be advocating that everyone be paid like a movie star, but they believe that more people are helped than hurt. However, the hurt are not a diverse group but pretty well identifiable. BniC December 31, 2021 at 5:32 pm It’s an ongoing dispute with my wife as I question why she still tips at high rates when the waitresses now are earning significantly more than she did 30 years ago due to minimum wage laws Harry Haddock's Ghost December 31, 2021 at 5:58 pm I saw the article mentioned in the post, and thought… Really!!!!! We have shortages so let’s disincentive production. Genius. Then I realised it was the guardian, and therefore complete nonsense. Jeremy Poynton January 2, 2022 at 10:10 pm Um. It’s The Guardian. Of course, it’s stupid. What else would it be there? Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment Name * Email * Website Save my name, email, and website in this browser for the next time I comment.