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Wealthy Americans who benefit hugely from a system rigged in their favor react with hysteria to anyone who points out just how rigged the system is.
Paul Krugman
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Paul Krugman
Age: 71
Born: 1953
Born: February 28
Blogger
Columnist
Economist
Essayist
Journalist
Pundit
University Teacher
Writer
Albany
New York
Paul Robin Krugman
Paul R Krugman
Favors
Benefit
Rigged
Benefits
Hugely
Americans
Hysteria
System
React
Anyone
Favor
Wealthy
Points
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I believe that the only important structural obstacles to world prosperity are the obsolete doctrines that clutter the minds of men.
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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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It’s not about the budget it’s about the power...So will the attack on unions succeed? I don’t know. But anyone who cares about retaining government of the people by the people should hope that it doesn’t.
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Are you, or is someone you know, a gadget freak? If so, you doubtless know that Wednesday was iPhone 5 day, the day Apple unveiled its latest way for people to avoid actually speaking to or even looking at whoever they're with.
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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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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.
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The key reason executives are paid so much now is that they appoint the members of the corporate board that determines their compensation and control many of the perks that board members count on. So it's not the invisible hand of the market that leads to those monumental executive incomes it's the invisible handshake in the boardroom.
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The habit of disguising ideology as expertise has created a deficit of legitimacy.
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If you want to understand opposition to climate action, follow the money.
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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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Close the weak banks and impose serious capital requirements on the strong ones...You see, it may sound hard-hearted, but you cannot keep unsound financial institutions operating simply because they provide jobs.
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And when the chickens that didn't hatch come home to roost, we will rue the day when, misled by sloppy accounting and rosy scenarios, we gave away the national nest egg.
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We should try to create the society each of us would want if we didn't know in advance who we'd be.
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I think Stockman is an interesting sort of amalgam.
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Politics determines who has the power, not who has the truth.
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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 party of ideas has become the party of Beavis and Butthead.
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Bad ideas flourish because they are in the interest of powerful groups.
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It's a funny thing, by the way, how people who love free markets are also quite sure that they know that investors are being irrational.
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