Krugman Sees 'Deficit-Palooza' Under Trump, Surprised by Labor Market

The video discusses the concept of 'zombie ideas' in politics, focusing on tax cuts and austerity measures. It explores the impact of these measures on economic recovery and the relationship between spending, unemployment, and inflation. The role of the Federal Reserve is analyzed, highlighting its challenges in managing interest rates and asset prices. The video also considers the potential economic risks posed by unexpected shocks like the coronavirus, emphasizing the interconnectedness of global supply chains.

What is the main purpose of the book discussed in the text?

What are the implications of austerity measures as mentioned in the text?

How did the perception of debt change in 2010 according to the text?

Discuss the relationship between unemployment and inflation as presented in the text.

What does the text suggest about the Federal Reserve's approach to interest rates?

How does the text describe the impact of low interest rates on asset prices?

What concerns are raised about potential economic shocks like the coronavirus?