Interesting read, thank you.
I think the idea that trickle-down economics doesn’t work is taken to the extreme and treats all businesses the same. It does not follow that the extreme right-wing policy not working means that the extreme left-wing policy is the only one that can work. There’s a huge spectrum in between.
Economics is complex and absolute answers to anything often have unintended consequences. Take Krugman’s advice for the government to spend more during recessions. Spending more on what? Government spending doesn’t necessarily pick up the slack in the private industries that are flagging.
It’s easy to say spend more on climate change but the devil is in the detail. Economics is the allocation of scarce resources with unlimited wants. The important part is choosing the areas to spend on that give the greatest impact. My job isn’t really at risk from climate change measures nor is Krugman’s yet we must consider the people who will be affected.