Welcome to the Wall Street Week newsletter, bringing you stories of capitalism about things you need to know, but even more things you need to think about. I’m David Westin, and this week Nobel Prize-winning economist Paul Krugman told us how politics are getting in the way of economics, and Wharton’s John Zhang took us through the controversial world of dynamic pricing. If you’re not yet a subscriber, sign up here for this newsletter.
Donald Trump came to office promising lower prices. But Nobel Prize-winning economist Paul Krugman says “everything he’s done is the opposite of that,” as the prices of good and services — from vegetables to housing — goes up. According to Krugman, who won his Nobel for work on trade patterns, the tariffs are “bad, but not as bad as legend would have it” — instead “it’s the uncertainty, the capriciousness, that are really” hurting the economy right now.