People really hate full employment and declining income inequality, the only ostensible benefits of ‘Bidenomics’

Published January 18, 2024 10:49am ET



When Paul Krugman isn’t busy trying to pretend that year three of the worst inflationary crisis in 40 years is merely transitory, the once-esteemed Nobel laureate is trying to justify said inflation with the supposed sole benefits of “Bidenomics“: Namely, we’ve achieved the white whale of full employment while shrinking income inequality.

There’s just one problem. Despite years of people pretending to care about the income gap between stoned fry cooks and the job creators who employ millions, it turns out we actually hate full employment and lessened income inequality when it comes at the cost of price stability and, thus, the value of our savings and paychecks.

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