Paul Krugman on Why the Economy Is Doing Better Than We Think

Sway

From rising gas prices and inflation to the Russia-Ukraine war, the U.S. economy has experienced all sorts of turbulence recently. But it hasn’t all been a bad news story: The U.S. unemployment rate reached a low of 3.6 percent in March and wages are rising. In this conversation, Kara Swisher asks the economist and Nobel laureate Paul Krugman to put all these factors into perspective. “It’s not an A++ economy,” Krugman says, but it’s “immensely better” than where the economy was during the 2008 financial crisis.

Kara asks Krugman to take stock of the supply chain crisis, trillions of dollars in stimulus spending and other major economic agitators. They discuss whether the low unemployment rate will translate to greater worker power and what this might mean for unionization efforts at companies like Amazon. And Krugman weighs in on how the federal government could help cool down an “overheating” economy.

You can find transcripts (posted midday) and more information for all episodes at nytimes.com/sway, and you can find Kara on Twitter @karaswisher.