Nobel laureate predicts a downturn in the global economy because of Trump

Photo: nobelprize.org

The Nobel Prize winner in economics Paul Krugman predicted a downturn in the global economy due to the victory of Republican Donald Trump in the US presidential election.

He wrote about this in an article published in a newspaper. The New York Times.

“It looks like Donald Trump is winning and the markets are falling. When can we expect them to go up... The first answer that comes to mind is never,” the economist is sure.

“Under any circumstances, putting an irresponsible, ignorant person who takes advice from all the wrong people in charge of the nation with the world's most important economy is very bad news. What makes it particularly bad right now is the fundamentally fragile state of much of the world still, 8 years after the great financial crisis,” he noted.

“It is very likely that we are facing a global recession with no end in sight,” Krugman said, calling the Republican candidate’s victory “a disaster for America and the world that has many facets.”

Paul Krugman is an American economist and professor of economics at Princeton University. One of the main liberal voices in the American political debate, he was also named one of the most influential scientific thinkers in America. Krugman was awarded the Nobel Prize in economics in 2008 for his work in the international economy.

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