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For most Americans, economic growth is a spectator sport.

Paul Krugman

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Paul Krugman
Age: 71
Born: 1953
Born: February 28
Blogger
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Economist
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Journalist
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Albany
New York
Paul Robin Krugman
Paul R Krugman
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Americans
Growth
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If Europe’s example is any guide, here are the two secrets of coping with expensive oil: own fuel-efficient cars, and don’t drive them too much.
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The raw fact is that every successful example of economic development this past century ... has taken place via globalization.
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The public has no idea that the deficit has been falling like a stone.
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Seven habits that help produce the anything-but-efficient markets that rule the world. 1. Think short term. 2. Be greedy. 3. Believe in the greater fool 4. Run with the herd. 5. Overgeneralize 6. Be trendy 7. Play with other people's money
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Friedrich Hayek is not an important figure in the history of macroeconomics.
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I'm especially baffled by the idea of taking insurance against a U.S. default. If America defaults, we're talking about a chaotic world - Mad Max, more or less - in which case, who imagines that insurance claims will be honored?
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Can we break the machine that is imposing right-wing radicalism on the United States? The scariest part is that the media is part of that machine.
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The real danger with debt is what happens if lots of people decide, or are forced, to pay it off at the same time.
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The federal government is basically an insurance company with an army.
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Republican candidates had to appeal to their base, which is by and large elderly white people arguing with empty chairs.
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Economics is not a morality play.
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When the Fed decides that inflation is too high, they have the tools, and they've shown historically that they have the will, to bring it down. And, it might be painful.
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Default is not in our stars, but in ourselves.
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As I've often said, you can shop online and find whatever you're looking for, but bookstores are where you find what you weren't looking for.
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as an economics professor I am by nature inclined to the view that the truth isn't out there, it's in here - that usually you learn a lot more by thinking really hard about the data than you do by sniffing around for supposedly inside information.
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The important thing to understand is that the case for pollution control isn't based on some kind of aesthetic distaste for industrial society. Pollution does real, measurable damage, especially to human health.
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The habit of disguising ideology as expertise has created a deficit of legitimacy.
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Not all private equity people are evil. Only some.
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In short, it's a great economy if you're a high-level corporate executive or someone who owns a lot of stock. For most other Americans, economic growth is a spectator sport.
Paul Krugman
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Politics determines who has the power, not who has the truth.
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