The people who used to shout most about the need for a revolution to happen in Nigeria are now the blokes making many arguments against revolution. The former activists and campaigners for radical change are now singing a new song on the need to give democracy a chance. As almost everybody knows all over the planet, things always change only to remain the same in good old Nigeria. These are arguably the hardest times for ordinary hardworking Nigerians throughout the history of the benighted country. People can hardly make ends meet, and stories are being bandied about how the former…

In his November 7, 2023 New York Times newsletter, the economist Paul Krugman asks a good, albeit belated, question: Why did so many economists get the inflation outlook wrong? After all, the near-consensus among mainstream economists in recent years was that inflation would persist – and even accelerate – and that this justified substantial interest-rate hikes by the US Federal Reserve. Yet the quasi-inflation of 2021-22 proved transitory. Krugman poses his question with impeccable diplomacy, professing “respect” for three authors of a September 2022 paper published by the Brookings Institution (which was then promoted by Harvard University’s Jason Furman) projecting…