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However, the fact that an economist offers a theoretical analysis does not and should not automatically command respect. What is needed is some assurance that the analysis is actually relevant.
Paul Krugman
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Paul Krugman
Age: 71
Born: 1953
Born: February 28
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Paul R Krugman
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More quotes by Paul Krugman
The trouble with poverty, as an issue, is that it has basically exhausted the patience of the general public.
Paul Krugman
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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The problem with digital books is that you can always find what you are looking for but you need to go to a bookstore to find what you weren't looking for.
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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.
Paul Krugman
On the political as on the economic front it's important not to fall into the not as bad as trap. High unemployment isn't O.K. just because it hasn't hit 1933 levels ominous political trends shouldn’t be dismissed just because there’s no Hitler in sight.
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The economic expansion that began in 2001, while it has been great for corporate profits, has yet to produce any significant gains for ordinary working Americans. And now it looks as if it never will.
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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 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.
Paul Krugman
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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When stock prices are rising, it's called ''momentum investing'' when they are falling, it's called ''panic.''
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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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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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Economics is not a morality play.
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There's one thing that the Fed has been really good at cracking down on, and that's inflation.
Paul Krugman
What saved the economy, and the New Deal, was the enormous public works project known as World War II, which finally provided a fiscal stimulus adequate to the economy’s needs.
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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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Default is not in our stars, but in ourselves.
Paul Krugman
I have friends, political scientists, sociologists, who all share an interest at least in certain kinds of science fiction.
Paul Krugman
I think Stockman is an interesting sort of amalgam.
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Outrageous fiscal mendacity is neither historically normal nor bipartisan. It’s a modern Republican thing.
Paul Krugman
