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Krugman's beef

In his May 6 column for The New York Times, Krugman voiced strong disapproval of Florida’s new legislation and broadened his critique to include conservatives overall.

“The new Florida law is a perfect illustration of how crony capitalism, culture war, conspiracy theorizing and rejection of science have been merged — ground together, you might say — in a way that largely defines American conservatism today,” he wrote.

Krugman argued that the new legislation contradicts claims from the right about supporting limited government, because it's quite intrusive for politicians to regulate what people can and cannot eat.

Krugman admitted that he’s not a vegetarian himself and does not plan on eating bugs. However, he emphasized that he respects the dietary choices of others, while ridiculing the idea of any plot to force humans to consume insects against their will.

He believes the legislation shows that “many right-wingers are actually enemies, not defenders, of freedom.”

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'Reagan's successors'

Krugman also mentioned former President Ronald Reagan in his discussion.

Despite being critical of Reagan’s presidency, he acknowledged that Reaganism centered on “real policy issues” such as tax rates and regulation.

The problem today, Krugman argued, is that “the people who cast themselves as Reagan’s successors” appear disinterested in serious policymaking.

“For a lot of them, politics is a form of live-action role play. It’s not even about ‘owning’ those they term the elites; it’s about perpetually jousting with a fantasy version of what elites supposedly want,” he explained.

Krugman concluded by saying that these people’s unseriousness is doing “a great deal of damage to America and the world.”

Billionaires' beef?

Florida is not stand alone in its prohibition of lab-grown meat. Alabama has also banned its sale, while similar initiatives have been discussed in Arizona and Tennessee.

And considering the substantial investments made in the lab-grown meat industry, critics like Krugman are likely not the only one opposing these measures.

Last year, UPSIDE Foods — a California-based lab-grown meat company — received approval from the U.S. Department of Agriculture (USDA) to start commercial production and sales of its cultivated chicken. The company is backed by multiple high profile investors, including Virgin Group co-founder Richard Branson and Microsoft co-founder Bill Gates.

Amazon founder Jeff Bezos is in the game, too. In March, his fiance Lauren Sanchez, vice chair of the Bezos Earth Fund, announced their $60 million investment into sustainable protein sources, including plant-based, fermented and cultivated meat.

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Jing Pan Investment Reporter

Jing is an investment reporter for MoneyWise. He is an avid advocate of investing for passive income. Despite the ups and downs he’s been through with the markets, Jing believes that you can generate a steadily increasing income stream by investing in high quality companies.


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