Paul Krugman Teaches Economics and Society | Official Trailer | MasterClass

Paul Krugman Teaches Economics and Society | Official Trailer | MasterClass


[MUSIC PLAYING] We live in strange times. The housing bubble
burst– rise of China– and the rise of inequality. Health is a very big deal. Taxes are a front rank issue. Blue-collar jobs were lost. Two groups have
been left behind. But it’s a complicated story. Instead of saying, ah,
it’s a complicated world, I don’t get it, say, all right,
let me try to figure this out. Let me make sense of this. Doing economics
requires stepping back from all of the details to say,
what is the essential here? What is the story? It’s about people. It’s not about money. And it ends up being
about what people do. Really good economics has
a kind of beauty to it. And it comes down to
just two principles. Hundred-dollar bills don’t
lie on the street very long. The other is, every
sale is also a purchase. Things add up. What you’re going to
learn here in this class is how to think
like an economist. Health care in America
is an economic issue. Left to its own devices, private
health insurance actually just doesn’t work. The crisis of 2008 wasn’t as
bad as the Great Depression. And if you ask why, well,
because we learned something. It’s never been more
important to educate yourself. There isn’t an
establishment that knows what it’s
doing and is going to get us through all of this. It’s going to have
to come from you. There’s no guarantee
that good ideas prevail. But if you don’t try to
have those good ideas and get them out there, then,
of course, they won’t prevail. Keep on plugging, and don’t
let the crazies grind you down. I’m Paul Krugman, and
this is my MasterClass.

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97 thoughts on “Paul Krugman Teaches Economics and Society | Official Trailer | MasterClass”

  • It's pretty simple. Banks create money de novo when they issue loans. They don't actually have that money in their accounts; it's created on the spot. Then, the person works to make that money real, by paying it back to the bank. The banking bailouts represented a failure of this system, because the banks dropped the ball on their responsibility.

    There's also some interplay between Central Banks and money being disconnected from a fixed asset, such as gold. Central banks also promote cronyism, because Government employees are the first to get dibs on the moolah.

  • It's very hard time get a straight answer from a Jew (fake Jew – the Babylonians, and then the Romans, killed the Israelites) when it comes to money.

    This is because the Jews are on the opposite side of the fractional reserve/ QE equation. They are the primary beneficiaries of this current financial system. There are those in debt, and those who are beneficiaries of the debt system. The Jews are the latter.

    I've never seen Professor Krugman speak honestly, because that would implicate his "people". I'm not even "antisemitic", I quite like Jews, I just don't like their dishonesty when it comes to the structure & function of our financial system.

  • After seeing this ad, all respect I had for Masterclass went out a broken window. I also didn't know Krugman won a Noble Prize. This is insane someone could be so ignorant and make it so far. What a fraud and a scam! I won't be recommending Masterclass to anyone until you do some better research, correct any propaganda and misinformation from this series, and pick a better economist. I'd much rather listen to Thomas Sowell on economics.

  • Peter Schiff says it best – How Is Krugman So Dumb About a Topic He's Studied for So Long? https://www.youtube.com/watch?v=NgjVki5cTRE

  • This man is an arrogant tosser. No humility what so ever. Why not get an economist who really tries to break the mould like Richard Werner or Steve Keen?

  • "Hey Whitey, the country isn't yours anymore, and thankfully you're all going to die off anyway, so you may as well just shut up and learn to accept it. In the meantime, shell out your money to listen to me tell you about how your money should be spent, otherwise I will consider you to be a cousin-fucking rube." – Paul Krugman for MasterClass.

  • Look how many morons came out of the woodwork to talk smack but did not have the courage of their convictions by even showing their identity. Too funny.

  • Krugman felt in September 2009 that the best thing to do was to have another bubble and that one could deal with the consequences of such a bubble at a later stage … the problem was that he already felt that way in 2001 and we know now what the consequences of that bubble were. Also in September 2009 he published an article entitled 'How Did Economists Get It So Wrong' … the title should have been 'How Did I [Krugman] Get It So Wrong'. In that article he didn't provide a single mention in even one sentence "excessive leverage" or "excessive credit growth" leading to monetary and economic instability.

  • LOL @ anyone who pays for this. This ad came up for me while watching a Ben Shapiro video. Talk about polar opposites. Austrian Economics kicks the shit out of Krugman every day.

  • You are one of my fav economis i am reading all your books out of my syllabus, you have always been so interesting while discussing economic heavy concepts. Good job sir!

  • You lost me at "The rise of inequality" 0:09 No serious economist sees this as a threat to be defeated. Inequality exists in every social and economic system. That's like saying, "If only we could get rid of poverty, everyone would be happy." The issue is not poverty. Poverty is an effect, not a cause. Same thing with inequality, it's an effect, not a cause.
    Freedom is the cause. Wealth and happiness are effects. Capitalism is the (best) means.

  • Learning Economics from Paul Krugman is like going to medical school learn how to be a witch doctor, what a snake oil salesmen.

  • I can call a bubble. Paul Krugman lives in one. That's the only bubble going on here. Virtual currencies are not a bubble. Imagine if people went around in the early 1900's saying AUTOMOBILES ARE A TULIP SCAM. OR IN THE LATE 90'S THE INTERNET AND SEARCH ENGINES ARE A TULIP SCAM. The only scam here is people believing and crediting this Keynesian lunatic.

  • I didn't realize there were so many Nobel laureates on here, or that the alumni network from the college of "well my dad says" was so extensive.

  • Basic truth "economics is about people"
    This one statement made me curious about this guy.
    I'll have to look into this, thanks.

  • Chapter 5:
    "Learn how the Federal Reserve works to keep the economy healthy, and about the theoretical framework it uses to inform its decisions."
    How very intriguing this seems….

  • Is this the guy that doesn't understand inflation and wanted America to mint a Trillion dollar coin to pay for the debt?

  • Thought this was a parody at first. This is the guy that real economists make fun of. On the other hand, if his class teaches you how to be a liberal media shill then he's more than qualified.

  • Paul Krugman lies about Health Care.
    How Government Solved the Health Care Crisis – Animation
    https://www.youtube.com/watch?v=fFoXyFmmGBQ

  • Yep, this is a great way to misunderstand economics completely. The Mises Institute is a great source for education in economics… this idiotic Keynesian crap is the economic stance responsible for mass debt, economic bubbles, crashes, and the Federal Reserve. Don't waste your money on this guy.

  • Strange times? You mean economists not computing and reporting the Depreciation of Durable Consumer Goods for the last 70 years? How many cars have Americans junked since the Moon landing? There were 200,000,000 automobiles in the US in 1994. How many of those do you think are running today? Buy more cars, add to GDP! Don't subtract them as they wear out.
    http://toxicdrums.com/economic-wargames-by-dal-timgar.html

  • Learning economics from Paul Krugman is like learning financial management from Johnny Depp. Krugman is one of the most confused economist & political analysts of the past 30 years. I genuinely pity the fool that pays money to "learn" from Paul Krugman. That person will be more ignorant of economics by the end of the course.

  • Besides his pretty much perfect work on trade, Krugman has been wrong on everything. I'd like to see someone like Ed Prescott, Lee Ohanian, or Thomas Sowell teach one of these classes.

  • I'm not kidding or trying to be funny when I say that I LITERALLY thought this was satire when I first saw it. Really. I thought it was something like The Onion. Paul Krugman teaches Economics. My god I hope someone lost their job over this.

  • Can you please just go away. You lost all credibility when you said Trump will cause a global recession and here you are now as if we are supposed to give a damn what you think. Do us all a favor and go back under your rock. Master Class? You mean Classless Master!

  • These Master Classes are great….THANK YOU Paul Krugman is right Let us Make Sense of this time in America rather than freaking out, Its all about People not Money. Right on.

  • Paul Krugman (economics author, MIT professor, BA from Yale, PHD from MIT in economics)

    14 year olds: “DoEs THiS IdIoT eVeN kNoW hOw ThE ecOnOmY WOrkS?”

  • Paul Krugman is a bloody Communist and is a quack when it comes to economics. The only reason he got a Nobel prize is because the people handing them out are communists too. He cannot comprehend that when taxes go up, people hoard money. A simple law of economics he just blatantly ignores.

  • This guy has a PhD? He can't even comprehend the basics of economics and he routinely lies. He carries water for the Democrats and for Socialism. He has been wrong on everything.

  • $180/Year. Fuck you! If you were a real liberal you would let advertisement dollars fund your outreach.

    I was once a loyal reader but now realize you are just another opportunist. May your legacy be forever tainted.

  • In all seriousness though, if masterclass wants to teach economics, they would be best off bringing in all of the different schools of economics, not just keynesianism.

  • This just moves too fast off the top. Let us digest each morsel a bjt. My mind is racing to keep up with my eyes and ears. Will definitely check out the content in its full format.