THE DEFINITIVE ANSWER TO A CRYPTO SKEPTIC
5 things Paul Krugman gets wrong about crypto
Krugman, who was so publicly wrong before, is now taking on crypto — and he’s once again on the wrong side of history. Here’s why
When I read Paul Krugman’s column in the New York Times explaining why he’s a crypto skeptic, I couldn’t help but think about his article from 1998.
“By 2005 or so, it will become clear that the Internet’s impact on the economy has been no greater than the fax machine,” the economist and Nobel laureate declared.
Now, Krugman, who told Business Insider in 2013 that he “doesn’t claim any special expertise in technology,” is taking on crypto — and he’s once again on the wrong side of history.
Blockchain is going to change the world. The impact of this breakthrough technology on society is going to be profound. That realization is what made me leave my job driving product strategy and global go-to-market at Facebook to start an investment firm focused on blockchain technology and crypto assets.
Here are the five main flaws in Krugman’s argument:
