Paul Krugman Podcast
Paul Krugman, Nobel Prize-winning economist and New York Times columnist, shares his insights on economics, politics, and current events. The podcast covers topics such as economic policy, inequality, trade, and the global economy. Krugman offers analysis and commentary based on his expertise and research.
Episodes
A Gesture of Contempt
A quick video, thankfully not from Midtown ManhattanHi there. Paul Krugman with a very quick update. I haven’t done a regular post today because I’m jet-lagged out of my mind, but I just wanted to weigh in on something that will be happening a few minutes after I record this. Which is that a significant piece of Midtown Manhattan — the area surrounding Madison Square Garden — is about to be closed
Comments on a Freaky Friday
Hi everybody. I’ve been having an extremely busy week, so no two talking heads conversation this week. Just my head talking alone for a relatively short time.Hi, I’m Paul Krugman. I’m winding down some travel, and I’ve been meeting all sorts of people face to face, so virtual interactions are down. So just to give you some kind of Saturday video, I thought I would talk a little bit about latest ec
Learning from a Mentally Ill President
TranscriptThe President of the United States is mentally ill, but everybody knows that. So while we should continue to focus on this degeneration taking place in front of our eyes, we should also, beyond that, ask what we can do about the powers, the interests, the system that put this horrifying person in a position of power.Hi I’m Paul Krugman. First video update in a while.It’s May 31st. If you
How to Win a Trade War
Chad Bown and Soumaya Keynes have a terrific new book with that title — a breezy survey of our chaotic new world of international economics, couched as advice for nations trying to get the upper hand. The book is here. I spoke with them last week about their book and the world in general. Fun stuff in a slightly grim way, and I hope we kept the acronym level tolerable. Transcript provided by the F
Lunch Money with Paul Krugman and Heather Cox Richardson
I’m posting our Wednesday conversation as this week’s video. Transcript below.. . .TRANSCRIPT: Paul Krugman in Conversation with Heather Cox Richardson(recorded 5/20/26)Heather Cox Richardson: How are you doing, Professor Krugman? I know you’re on vacation.Paul Krugman: Yeah. As I wrote the other day, I’m in Europe, which means I don’t have to think about Trump 100% of the time, only about 90%. So
A Whiff of Stagflation
For more videos, visit my YouTube channel. TranscriptHi, Paul Krugman here. Different city, different country, still not home. Unfortunately, couldn’t manage to do this one in a cafe, but we have been sitting in cafes a fair bit.I just want to weigh in on a really kind of alarming report on consumer confidence that came out today. This is the long-running University of Michigan survey of consumer
G. Elliott Morris on Vibes and the Midterms
For more videos, visit my YouTube channel.I’m away but alas staying in touch with political news at home, and thought I would check in with one of the best public opinion quants about where we stand right now …TRANSCRIPT: Paul Krugman in Conversation with G. Elliott Morris(recorded 5/13/26)Paul Krugman: Hi everyone. Returning today to G. Elliott Morris, my favorite polling and public opinion analy
My President Went to China, and All I Got Was Even More Expensive Gasoline
TranscriptMy president went to China, and all I got was even higher gas prices. Hi, Paul Krugman here. Recording a video today rather than one of my usual posts,.I just feel like I’ve been too immersed in charts and wanted to do something shorter, simpler, whatever. It’s Friday. The summit between Trump and Xi Jinping has wrapped up. Hard to say what exactly was accomplished, but at least Trump is
Why Did Trump Take Elon Musk to China?
TranscriptWhat’s good for Elon Musk is not necessarily good for America. In fact, it may go the other way around. So why did Donald Trump take Musk and a bunch of other top executives to China with him? Hi, Paul Krugman, again from a cafe, a little noisy behind me, but I hope it’ll be tolerable.So Donald Trump has gone to Beijing. I wrote something about it earlier today, about the economics and a
Remember Tariffs?
Remember tariffs? They have not gone away. Hi, Paul Krugman with another video update from another cafe. You may remember that back in April 2025, which was seven years ago — well, actually just about one year ago, but it feels like longer — Donald Trump shocked us all with massive tariffs on basically everybody. It was an extraordinary policy move.It was also clearly illegal. It was also clearly
The Super-Rich are Different from You and Me
TranscriptThe super rich are different from you and me. They are pettier and more self-centered than most of us can easily imagine. Hi, Paul Krugman here. This video is partly me trying to show that yes indeed I am on vacation, sort of, although on my laptop too much of the time.But anyway, I’m at least working on the laptop sitting in cafes. But I also wanted to do a follow-up on a post earlier t
Don't Cry for Jeff Bezos's Yacht
TranscriptAccording to press reports, Jeff Bezos is planning to sell his 417-foot yacht, the one with a carved figurehead of Lauren Sanchez, his second wife, at the front. According to these reports, he’s unhappy at the attention that the yacht is getting. Funny how that works. Hi, Paul Krugman with a bit of an experiment.I am recording this in a cafe, a cafe that is not in New York, as you could
Talking Vibes With Jared Bernstein
Jared Bernstein, former top Biden economist and all-round economic expert, and I bat around the puzzle of persistent negative economic sentiment. Recorded Wednesday.. . .TRANSCRIPT: Paul Krugman in Conversation with Jared Bernstein(recorded 4/22/26)Paul Krugman: Hi everyone. This week I’ve got Jared Bernstein with me for a talk about economic vibes. We had planned and hoped to have G. Elliott
Kevin Warsh is Trump's Sock Puppet
Some quick thoughts about yesterday’s hearing.TranscriptKevin Warsh, the next chairman of the Federal Reserve, is Donald Trump’s sock puppet. But we knew that. The question during yesterday’s confirmation hearing was whether he was sufficiently brave, sufficiently good at acting to pretend that he was more than that. And the answer is no. Hi, Paul Krugman here with a Wednesday update. I didn’t wat
Trump Can't Even Surrender Right
TranscriptWhen you’re losing a war, but it’s not an existential defeat, your country, your government can continue pretty much as before. Aside from the humiliation, there’s a well-established technique, which is to declare victory and pull out. But it appears that Trump can’t even pull that off. Hi, Paul Krugman with a Saturday update on the situation in the Strait of Hormuz and all of that. It’s
Kim Lane Scheppele on Hungary
More than a year ago I interviewed my old friend and colleague Kim Lane Scheppele, a constitutional scholar who speaks Hungarian and knows Hungary, about the march of autocracy. Now, suddenly, a much happier occasion. I found her account of how this happened startling — a lot I didn’t know, even though I’ve been following the news obsessively. And some of it is wild. Here’s a transcript:. . .TRANS
Trump Wants Regime Change at the Fed
No time for a regular post today, so here’s a video.TranscriptWhen Donald Trump took us to war with Iran, he dismissed warnings from the experts, from the military, from the intelligence community, saying that this was a highly risky proposition. Now he wants to bring that same level of clarity and judgment to monetary policy, and we should all be very afraid. Hi, Paul Krugman here. Today, I’m goi
How America Is Losing the World | Lunch Money with Paul Krugman and Heather Cox Richardson
Thank you Quentin Hardy, Beth Arnold, Jane Trombley, Resistance Media, Victoria Priya, and many others for tuning into my live video with Heather Cox Richardson! Join me for my next live video in the app.TranscriptHCR: Hey, everybody here from Bonita Springs, Florida and Elgin, Illinois and Portland, Oregon and Seattle, Washington, Fairbanks, Alaska. Boy, it must be getting beautiful up there righ
Delusions of Grandeur, Hungary Edition
TranscriptWhat is Hungary to us or we to Hungary? Hi, Paul Krugman here. A Saturday morning update ahead of the big election in Hungary taking place tomorrow. The eyes of the world are upon Budapest. It’s a little odd that Hungary is so much the focus of a lot of people, myself included. It has about the same population as New Jersey, about a quarter of New Jersey’s GDP. It’s not a big place, but
Talking with Lisa Graves
Lisa Graves is a legal activist and the author of a remarkable and terrifying book, Without Precedent, that documents the assault on democracy via the story of John Roberts. I spoke with her about how America has come to its current state, and what the future may hold:. . .TRANSCRIPT: Paul Krugman in Conversation with Lisa Graves(recorded 4/9/26)Paul Krugman: I’m speaking today with Lisa Grave
Losing the World's Respect
TranscriptAll around the world, big, strong men with tears in their eyes are coming up to Donald Trump and saying, “Sir, you’re a loser.” Hi, I’m Paul Krugman. A brief update on something that has palpably changed in the world in the last few days.As regular watchers of Donald Trump and regular readers of mine know, Trump has a thing about insisting that people treat him with immense respect — the
Our Darkest Hour
TranscriptThis is America’s darkest hour. Hi, Paul Krugman with an update Tuesday morning. Earlier today, Donald Trump posted on Truth Social, A whole civilization will die tonight, never to be brought back again. Not going to be a problem if we ever do get the war crimes trial that all of this deserves. A statement of motive, intent is completely clear. I don’t need to say how vile it is. It is s
Living in Hell
America as we knew it may end Tuesday. Hi, I’m Paul Krugman. Sunday morning update. Yesterday, I talked about how awful Trump’s message about glory to God and all of that was, but it’s looking much, much worse today. I’ll quote Trump in a second. But let me do a Heather Cox Richardson here and talk about history for a second. Think about what Abraham Lincoln, a president who was actually winning h
Donald Trump Isn't Sounding Like Himself
Donald Trump isn’t sounding like himself, and that’s terrifying. Hi, Paul Krugman here with a brief update on Saturday afternoon. Not my usual thing. No economics, no analytics, just I felt I needed to say something. On Wednesday, Trump gave a speech, which was... pretty depressing. He was low energy, listless, and seemed to be disconnected from reality, insisting that everything is going great in
Trump Doesn't Even Have the Courage to Run Away
A short video rather than my usual morning postDonald Trump doesn’t even have the courage to run away. Hi, I’m Paul Krugman. I’m not going to do a regular post today — it’s Thursday morning — because I wanted to wait and see what was in the big speech from Donald Trump last night. And I thought I could just do a short video about it.It turns out that the speech was sort of an anticlimax, although
The Psychology of Military Incompetence
TranscriptSo the world’s greatest military power went to war against a fourth rate nation whose military budget would be rounding error in our defense spending. And it appears that we lost. Hi, Paul Krugman with a late night, well, evening update, which I don’t usually do, but I wanted to get this in before who knows what happens in the news tomorrow. It’s Tuesday. It’s the day that the stock mark
Pete Hegseth Believes in the Lethality Fairy
A month into the war, and now they’re talking about pointless ground action and/or war crimes.TRANSCRIPTPete Hegseth believes in the lethality fairy, and that’s a very bad thing. Hi, Paul Krugman here. Most people watching this probably don’t get the reference. In the aftermath of the 2008 financial crisis, a number of governments did what economic textbooks say is exactly the wrong thing. They sl
The Worst and the Dumbest
For more like this, check out my YouTube channelTranscriptHas the US military already been Kudlowized? Hi, I’m Paul Krugman. I’ll explain what I meant by that in a couple of minutes. It’s Friday morning. The war is continuing. A lot of what’s happened in the Iran war has sadly not come as a surprise. The fact that there was no planning, that there was no plan B in case a decapitation strike didn’t
Adventures in Fantasy Diplomacy
Another day in America’s self-immolation as a Great Power.More like this on my YouTube channelTranscriptIt’s Monday morning. Donald Trump has, at least for the time being, called off plans to bomb Iran’s civilian infrastructure. He has done so because, according to him, highly productive negotiations are underway involving the government of Iran, an invisible six-foot white rabbit, and his Canadia
Iranian Oil, Still Shipping
The willingness of the Trump administration to let Iran keep selling oil shows that we’re not willing to endure pain in a war that it all about enduring pain.For more like this, see my YouTube channelTranscriptIf you want to understand how things are going in Iran and why it looks increasingly likely that the United States is going to lose this thing in every sense that matters, follow the oil mon
Let's Talk About Fertilizer
For more videos, visit my YouTube channel.Of war, fertilizer, airlines and force majeure.Transcript (AI-generated)So let’s talk for a few minutes about fertilizer. Hi, I’m Paul Krugman. Fertilizer is not usually one of my things, but it’s important in what’s happening right now. And it’s also part of trying to understand just how big a mess we are in as a result of this unplanned, ill-conceived wa
Is it Time to Drive 55 Again?
More videos like this available on my YouTube channel.Also: Substack generates a transcript for these videos, available on the app and the web, but the button doesn’t show up in email. So here’s a cut-and-paste (not edited):TranscriptIs it time to bring back the 55 mile an hour speed limit? Not going to happen, but it’s actually would not be stupid right now. Hi, Paul Krugman. Update on Friday mor
Meta Thoughts
Imagine if the U.S. government had wasted as much money as Mark Zuckerberg. PS: I know, the company still named Meta was formerly Facebook; bit of a senior moment in there.Also, it’s easy to miss, but there’s a button above that says “Transcript.” It’s AI-generated and not edited like my Saturday interviews, but it’s there for the text-oriented. Get full access to Paul Krugman at paulkrugman.subst
Are the Economic Books Being Cooked?
I don’t believe that it’s corruption, but it’s not a good look. Get full access to Paul Krugman at paulkrugman.substack.com/subscribe
In Front of Trump's Nose
People in power can keep insisting that things are going great, never mind reality — until they can’t. Get full access to Paul Krugman at paulkrugman.substack.com/subscribe
Phillips O'Brien on Iran
Another month, another war — this one looking like a complete c*******k. I spoke again with my go-to military historian, who among other things has thoughts about shoes. Here’s a transcript:. . .TRANSCRIPT: Paul Krugman in Conversation with Phillips O’Brien(recorded 3/12/26)Paul Krugman: Paul Krugman here with another conversation with my favorite military historian/expert, Phillips O’Brien. We
Slavery and Tariffs
The latest excuse for imposing tariffs is even less credible than previous excuses. Get full access to Paul Krugman at paulkrugman.substack.com/subscribe
Lunch Money with Paul Krugman and Heather Cox Richardson
Thank you Teresa Hanafin, Lisa Gonzalez, Stephanie G Wilson, PhD, Nenad Georgievski, Diane Osgood, and many others for tuning into my live video with Heather Cox Richardson! Join me for my next live video in the app. Get full access to Paul Krugman at paulkrugman.substack.com/subscribe
Why I Don't Speak American
At a summit with Latin American leaders over the weekend, Marco Rubio said a few words in Spanish. Then Pete Hegseth popped up to say “I only speak American.” And that’s why we’re facing disaster in the Persian Gulf. Get full access to Paul Krugman at paulkrugman.substack.com/subscribe
Where's My Golden Age?
A brief reflection on a bad morning for jobs and a bad week for energy. Get full access to Paul Krugman at paulkrugman.substack.com/subscribe
ONE BILLION DOLLARS
A reaction to the latest news on how much this war is costing. Get full access to Paul Krugman at paulkrugman.substack.com/subscribe
Live with Paul Kruman: Davos, Powell, world economy
Thank you Sonya Lea, OrientExpress Marga Zambrana, Alex Schneideman, Dirk Paessler, Dixiane Hallaj, and many others for tuning into my live video with Harry Litman! Join me for my next live video in the app. Get full access to Paul Krugman at paulkrugman.substack.com/subscribe
Live with Heather Cox Richardson
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talking with Paul Krugman about the Trump economy and zombie Republican policies
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Let’s Do Lunch!
Thank you Steve Chapple, Ethan Phillips, Grace Lovelace, Jenine Baines, Dixiane Hallaj, and many others for tuning into my live video with Jared Bernstein! Join me for my next live video in the app. Get full access to Paul Krugman at paulkrugman.substack.com/subscribe
Re: money and creativity with Paul Krugman
Thank you Jeremy Ney, Public Servant, Tosh Berman, Steve Chapple, Sanjiv, and many others for tuning into my live video with Joseph Gordon-Levitt! Join me for my next live video in the app. Get full access to Paul Krugman at paulkrugman.substack.com/subscribe
Paul Krugman and Ryan Lizza
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Let’s Do Lunch!
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Derek Thompson and Paul Krugman on politics, econ, and AI
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Live with Jared Bernstein
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Paul Krugman on Trump‘s budgetary “cruelty” and more
Thank you MaeKuykendall, sumrow, Sandra Dingler, Larry Ayers, Leah Anderson, and many others for tuning into my live video with Anand Giridharadas! Join me for my next live video in the app. Get full access to Paul Krugman at paulkrugman.substack.com/subscribe
Live with Ryan Lizza
Thank you Trevor Aaronson, Indran Amirthanayagam, Critical Minerals Journal, PamC, Lawrence Toole, and many others for tuning into my live video with Ryan Lizza! Join me for my next live video in the app.Ryan’s internet went down during Part I, so here’s Part II. Get full access to Paul Krugman at paulkrugman.substack.com/subscribe
Paul Krugman on Trump’s Trade War
Thank you Dan Gardner, Peter Kalmus, David Richard Holmquist, Marianne O, CFA, Rajan Menon, and many others for tuning into my live video with Ryan Lizza! Join me for my next live video in the app.Ryan’ internet went down partway through, so this is Part I. Part II follows. Get full access to Paul Krugman at paulkrugman.substack.com/subscribe
WTF 2.0: Paul Krugman
Thank you Barnett R. Rubin, Steward Beckham, Mary Annarella, Jef Sneider, Stéphanie Colle-Watillion, and many others for tuning into my live video with Jonathan V. Last! Join me for my next live video in the app. Get full access to Paul Krugman at paulkrugman.substack.com/subscribe
Live with Paul Krugman: the convulsions of the Trump tariffs
Thank you Todd Ortscheid, Francis Wade, Gayle S. Rose, Steve Brant, Jeeni Criscenzo, and many others for tuning into my live video with Harry Litman! Join me for my next live video in the app. Get full access to Paul Krugman at paulkrugman.substack.com/subscribe
Paul Krugman on Tariffs
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Live with Andy Borowitz
Thank you Merrill Goozner, Laëtitia Vitaud, Kathleen Sullivan, James Birchler, Niclas, and many others for tuning into my live video with Andy Borowitz! Join me for my next live video in the app. Get full access to Paul Krugman at paulkrugman.substack.com/subscribe
Live with Mehdi Hasan
Thank you Molly Knight, kathleen Lingo, Frank Fariello, Marty Neumeier, Andrew North, and many others for tuning into my live video with Mehdi Hasan! Join me for my next live video in the app. Get full access to Paul Krugman at paulkrugman.substack.com/subscribe
Live with Nate Silver
As promised, a live chat with Nate Silver without a single mention of either poker or sports — or, for that matter, monetary policy!Thank you Laura Fenton, Michael Chang, Marty Neumeier, J Dziak, Sonya Lea, and many others for tuning into my live video with Nate Silver! Join me for my next live video in the app. Get full access to Paul Krugman at paulkrugman.substack.com/subscribe
Trade Flows and Trade Balances
Last week was supposed to be all about a hugely destructive North American trade war. Instead, that’s been put on hold, while other nightmares have come to the fore. But I’ve had numerous request from readers for a sort of primer on international trade flows, to help them parse the various claims about deficits and all that.So what follows are a set of slides. To be honest, I didn’t have time to w
Krugman & Azhar: The World in 2025
Thank you Paul Krugman, Ken Opalo, Andy @Revkin, Taegan Goddard, Ward Hayes Wilson, and many others for tuning into my live video with Azeem Azhar! Join me for my next live video in the app. Get full access to Paul Krugman at paulkrugman.substack.com/subscribe
Paul Krugman and Noah Smith
Thank you CJ Gustafson, Tom Miranda, Simon Nixon, Rick Geissal, Conrad Quilty-Harper, and many others for tuning into my live video with Noah Smith! Join me for my next live video in the app. Get full access to Paul Krugman at paulkrugman.substack.com/subscribe
Rethinking Trade Imbalances
If you want to listen to this, I suggest using headphones. For me the volume comes out too low otherwise.Later this week I’ll be giving a presentation to Markus Brunnermeier’s macroeconomics webinar at Princeton; he asked me to talk about “geoeconomics”, which could mean a lot of things. But I decided to talk about a new view of trade imbalances, associated especially with Michael Pettis, that has
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