pull down to refresh
Krugman is especially egregious.
I think people need to understand that being a Nobel Prize winner (of economics or any other field), doesn't make you a general expert on all things economics / other field.
Usually, the person won a Nobel prize because they made a contribution that significantly advances the particular specialty that they're in. But it doesn't mean that have a better sense of the overall economy than anyone else. In fact, they may have less general wisdom because their expertise is so specialized.
It would be like some guy who made an incredible innovation on the landing gears of a plane, but then expecting that person to know everything about aviation including how airports are organized and labor market issues for pilots and stewardesses.
Dude, nobel prize winners said so, they're never wrong ever!!!
That's why I take all of my economic advice from the Nobel prize winning Paul Krugman who notably predicted that the internet would have no more effect on the gdp than the fax machine.
Well, being wrong once isn't thst bad, it's not like he predicted a global recession with no end in sight when Trump got elected his first term, and he definitely didn't agree with Jerome Powell about transient inflation...
This is why appeal to authority is bullshit. If we listend to nobel prize winners as their only merit, we would all call gold a pet rock and claim bitcoin is going to zero.