Paul Krugman emphasized the importance of the Bureau of Labor Statistics (BLS) in providing accurate economic data to the U.S. government. In an interview with MSNBC’s Ari Melber, Krugman stressed that the BLS is crucial for understanding the state of the economy and making informed decisions.
He warned against the manipulation of economic data for political gain, citing historical examples of countries that suffered hyperinflation due to falsified statistics. Krugman pointed out the dangers of prioritizing optics over reality, as it can lead to disastrous consequences.
According to Krugman, the U.S. is not immune to such practices, and he called attention to the importance of upholding the integrity of economic reporting. His insights serve as a reminder of the critical role that accurate data plays in shaping economic policies and maintaining stability.
To hear more of Krugman’s thoughts on this issue, you can listen to the interview starting from the 24-minute mark here.
