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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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Paul Krugman
Age: 71
Born: 1953
Born: February 28
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More quotes by Paul Krugman

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Coming up with a good idea, with an insight into the way the world works that is really new and that you really believe in, is a deeply satisfying experience.
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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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For most Americans, economic growth is a spectator sport.
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I think Stockman is an interesting sort of amalgam.
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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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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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The planet will continue to cook.
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Where's that toxic rhetoric coming from? Let's not make a false pretense of balance: it's coming, overwhelmingly, from the right. It's hard to imagine a Democratic member of Congress urging constituents to be armed and dangerous without being ostracized but Representative Michele Bachmann, who did just that, is a rising star in the G.O.P.
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What our economy needs is direct job creation by the government and mortgage-debt relief for stressed consumers. What it very much does not need is a transfer of billions of dollars to corporations that have no intention of hiring anyone except more lobbyists.
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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 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 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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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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Outrageous fiscal mendacity is neither historically normal nor bipartisan. It’s a modern Republican thing.
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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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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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Our grandfathers lived in a world of largely self-sufficient, inward-looking national economies - but our great-great grandfathers lived, as we do, in a world of large-scale international trade and investment, a world destroyed by nationalism.
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Friedrich Hayek is not an important figure in the history of macroeconomics.
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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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There are no atheists in foxholes and there are no libertarians in financial crises.
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