{"podcast":{"title":"Paul Krugman Podcast","slug":"paul-krugman-podcast-7703924","podcast_index_feed_id":7703924,"rss_url":"https://api.substack.com/feed/podcast/277517.rss","website_url":"https://paulkrugman.substack.com/podcast","image_url":"https://substackcdn.com/feed/podcast/277517/97debc08d318fda1d382063e54848600.jpg","author":"Paul Krugman","episode_count":81,"summary":"Notes on economics and more","last_synced_at":"2026-07-26T10:17:51.645609+00:00","page_url":"https://stenobird.com/podcast/paul-krugman-podcast-7703924"},"episode":{"title":"Lunch Money with Paul Krugman and Heather Cox Richardson","slug":"lunch-money-with-paul-krugman-and-heather-cox-richardson-2","published_at":"2026-05-23T10:30:00+00:00","page_url":"https://stenobird.com/podcast/paul-krugman-podcast-7703924/lunch-money-with-paul-krugman-and-heather-cox-richardson-2","show_page_url":"https://stenobird.com/podcast/paul-krugman-podcast-7703924","url":"https://paulkrugman.substack.com/p/lunch-money-with-paul-krugman-and-408","audio_url":"https://api.substack.com/feed/podcast/198584844/72bf99ad1c718ad78f0e41f3279abcf6.mp3","summary":"I’m posting our Wednesday conversation as this week’s video. Transcript below. . . . TRANSCRIPT: Paul Krugman in Conversation with Heather Cox Richardson (recorded 5/20/26) Heather Cox Richardson: How are you doing, Professor Krugman? I know you’re on vacation. Paul Krugman: Yeah. As I wrote the other day, I’m in Europe, which means I don’t have to think about Trump 100% of the time, only about 90%. So that’s a little bit of release psychologically. HCR: It’s really astonishing, isn’t it? But hopefully we don’t talk entirely about him today. I’m actually interested and would love to hear what you have to say about artificial intelligence, not itself as an entity, but as a factor in the economy. Because boy, it sure looks to me like we are way overinvested in AI. I think the growth on the stock market is basically AI companies. We know now that there’s more construction in AI data centers than there is in commercial real estate. And I’m wondering, can we just talk about that and you walk us through what this looks like? Because everybody keeps saying, “Oh, it’s a bubble like the housing bubble or like the dot-com bubble.” And I’m looking at it and saying… PK : Obviously, history is mostly what we have to go on. There have been many bubbles like this. There’s some broad similarities to dot-com, which was also a telecommunication thing. It also looks like the canal bubble in England, which was earlier. Most of the bubbles were pretty clearly bubbles at the time and that was certainly true for dot-com which I sort of still remember in real time. But with AI, I’m finding that the contrasts with the late 90s bubble are really illuminating. Obviously it’s again technology with lots of investment. There’s an enormous enthusiasm of a kind, but in other ways, it’s quite differen…","meta_description":"I’m posting our Wednesday conversation as this week’s video. Transcript below. . . . TRANSCRIPT: Paul Krugman in Conversation with Heather Cox Richardson…","key_points":[],"chapters":[],"topics":[],"duration_seconds":1900,"processing_state":"not_requested","actions":[{"name":"request_transcript","method":"POST","url":"https://stenobird.com/v1/public/podcasts/paul-krugman-podcast-7703924/episodes/lunch-money-with-paul-krugman-and-heather-cox-richardson-2/transcription-requests","description":"Idempotently request low-priority transcript generation for this episode."},{"name":"read_markdown","method":"GET","url":"https://stenobird.com/podcast/paul-krugman-podcast-7703924/lunch-money-with-paul-krugman-and-heather-cox-richardson-2.md","description":"Read the agent-friendly Markdown representation of this episode resource."}]}}