Nobel economist exposes 'scam at the core of MAGA economics'

Published: Wednesday, February 11, 2026 at 1:40 pm

Nobel Laureate Slams "MAGA Economics" as a "Scam"

In a recent podcast appearance, Nobel laureate economist Paul Krugman criticized the economic arguments of former Trump trade advisor Peter Navarro, labeling them a "scam." The discussion, hosted on "The Daily Blast," centered on Navarro's recent comments regarding immigration and employment figures.

Navarro, during an appearance on Fox Business, attempted to frame the current employment landscape under the Biden administration. He claimed, without providing supporting evidence, that job creation was primarily benefiting immigrants. He also suggested that a return to policies similar to those of the Trump administration, including mass deportations, would be beneficial for American workers.

Krugman argued that Navarro's statements inadvertently exposed the flawed logic underpinning "MAGA economics." He highlighted the false premise that a fixed number of jobs exist, and that immigrants taking jobs directly translates to unemployment for native-born Americans. Krugman emphasized that this viewpoint is unsupported by economic theory, historical data, or current facts.

Krugman further criticized the application of this logic to high-skilled jobs, suggesting that the argument is rooted in racism and ethno-nationalism. He pointed out that Navarro's statements were likely intended to mitigate the impact of potentially disappointing job reports. Krugman noted that the collapse of immigration is likely to lead to lower job growth in the future, a reality that contradicts the narrative promoted by Navarro and his associates.

BNN's Perspective:

While immigration policy is a complex issue, it's crucial to rely on factual data and sound economic principles. Krugman's analysis highlights the importance of avoiding simplistic narratives that pit native-born workers against immigrants. A balanced approach that considers the economic realities of immigration, including its potential benefits and challenges, is essential for informed policymaking.

Keywords: Paul Krugman, Peter Navarro, MAGA economics, immigration, employment, jobs, economy, tariffs, Joe Biden, Donald Trump, racism, ethno-nationalism, unemployment, job growth

Full Story