Nobel Prize-winning economist pinpoints major flaw in Trump's 'nervous' Iran war ploy

Krugman’s framing treats the Iran question as a technocratic problem of oil prices and taxpayer exposure, with Trump cast as “nervous” and reckless by default. That assumption is convenient for cable segments, but it skips the harder question: why the Strait of Hormuz is vulnerable in the first place and what deterrence looks like when Tehran tests it.

Conservatives worry less about pundit psychology and more about credible deterrence. If Iran can threaten global shipping without consequence, the cost shows up everywhere, including at the pump, in insurance rates, and in long-term energy security.

Yes, war is expensive. But so is inviting coercion. The priority should be freedom of navigation, enforced under rule of law, with clear objectives and a sober taxpayer interest. The principle at stake is whether America protects the arteries of global commerce or lets hostile regimes price that risk in permanently.