How Krugman Works

From Krugman, the gist of an article, titled, How I Work:

In the course of describing my formative moment in 1978, I have already implicitly given my four basic rules for research. Let me now state them explicitly, then explain. Here are the rules:

Listen to the Gentiles

Question the question

Dare to be silly

Simplify, simplify

I think this is why I appreciate his insights, that they are not dogmatic, #1 and #2, and that they are clear, #4.

Comments

It Started With a Jolt: How New York Became a Tech Town

#1 When a city is dominated by one industry, particularly finance, that can spell ruin for its inhabitants. Good for the wealthy and the people in the industry, mediocre for many others. Tech might smooth things out a bit, but there is no reason we need to give anything to a behemoth for coming here. Many are already make NYC home. Although not the only one, NYC has some of the best universities, many top-tier companies, pools of talented people, and the best cultural amenities. There was no reason to kowtow to a behemoth to come here. NYC is big and innovative, and it will stay big and innovative for the foreseeable future. Tech was here before and will it be here after, without being dominated by a single company. https://www.nytimes.com/2019/02/22/technology/nyc-tech-startups.html?comments#permid=30741436 #2 Why we would we want to be a tech town or any kind of single-industry town? Why would we want to trade one harmful kind of industry, finance, for an equally bad indust...

Happy New Year! May Your City Never Become San Francisco, New York or Seattle - Responses

#1 I'm a long-time New York resident, have watched the real estate market for years, and wonder about the cause and effect of high prices. My sense is that developers develop for the high-end because that is where the profits are. Not justifying the inequality, but over time, the only place to make major profits has been to either reduce costs at a huge scale, e.g., Amazon and Walmart, or to focus on smaller opportunities but aimed at the affluent, e.g., the luxury retail sector. Yes, it is not that simple, since cost is affected by regulations and taxation, but on its face, the high costs of developing in Manhattan, and maybe anywhere in NYC, force developers to focus on the luxury segment. At one time, significant government investment and support in affordable housing made it profitable for developers to build for average incomes, but much of that has been wiped away, along with other supports for the middle class over the past few decades, driving much of our inequality, th...

In Amazon Fight, Progressives Showed What They Want: A New Economic Agenda

In the end, the failure of this deal lays at the feet of Cuomo and De Blasio. It's a deal that should have never been made or should have been done in a way that wasn't filled with one-sided giveaways. As Amy Liu, vice president and director of the Metropolitan Policy Program at the Brookings Institution, describes, Virginia worked with local constituents to address concerns, negotiated a deal that required jobs from Amazon in exchange for incentives, and put more money into developing an education-focused job pipeline, rather than a simple giveaway to Amazon. Many people are going to blame a vocal minority for the failure when the problem was the deal itself. It could have been done to satisfy the critics, or at least mollify them, while still delivering for New York. https://www.nytimes.com/2019/02/16/business/amazon-economy-taxes.html?comments#permid=30664506

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