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Politics determines who has the power, not who has the truth.
Paul Krugman
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Paul Krugman
Age: 71
Born: 1953
Born: February 28
Blogger
Columnist
Economist
Essayist
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Pundit
University Teacher
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Albany
New York
Paul Robin Krugman
Paul R Krugman
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More quotes by Paul Krugman
Unsustainable situations usually go on longer than most economists think possible. But they always end, and when they do, it's often painful.
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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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We're living in a Dark Age of macroeconomics. Remember, what defined the Dark Ages wasn’t the fact that they were primitive — the Bronze Age was primitive, too. What made the Dark Ages dark was the fact that so much knowledge had been lost, that so much known to the Greeks and Romans had been forgotten by the barbarian kingdoms that followed.
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Obama is very much an establishment sort of guy. The whole image of him as a transcendent figure was based on style rather than substance. If you actually looked at what he said, not how he said it, he said very establishment things. He's a moderate, cautious, ameliorative guy. He tends to gravitate toward Beltway conventional wisdom.
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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 habit of disguising ideology as expertise has created a deficit of legitimacy.
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Under the gold standard America had no major financial panics other than in 1873, 1884, 1890, 1893, 1907, 1930, 1931, 1932, and 1933.
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The economics profession went astray because economists, as a group, mistook beauty, clad in impressive-looking mathematics, for truth.
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Tax cuts were not going to be effective at creating jobs, and the job creation record is lousy.
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One way in which Americans have always been exceptional has been in our support for education. First we took the lead in universal primary education then the “high school movement” made us the first nation to embrace widespread secondary education.
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When depression economics prevails, the usual rules of economic policy no longer apply: virtue becomes vice, caution is risky and prudence is folly.
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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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If you want to understand opposition to climate action, follow the money.
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The French, unfortunately, actually believe what they say, and that has been very destructive.
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If you can create even the illusion of high profitability for a few years, then when the thing collapses you can walk out of the wreckage a very rich man.
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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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Economics is not a morality play.
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I have friends, political scientists, sociologists, who all share an interest at least in certain kinds of science fiction.
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Generous unemployment benefits can increase both structural and frictional unemployment. So government policies intended to help workers can have the undesirable side effect of raising the natural rate of unemployment.
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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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