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The economics profession went astray because economists, as a group, mistook beauty, clad in impressive-looking mathematics, for truth.

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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Albany
New York
Paul Robin Krugman
Paul R Krugman
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More quotes by Paul Krugman

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The goal in the end is not to win elections. The goal is to change society.
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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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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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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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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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I think Stockman is an interesting sort of amalgam.
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The federal government is basically an insurance company with an army.
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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 raw fact is that every successful example of economic development this past century ... has taken place via globalization.
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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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Surely I'm not the only person to ask the obvious question: How different, really, is Mr. Madoff's tale from the story of the investment industry as a whole?
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Every once in a while I feel despair over the fate of the planet. If you’ve been following climate science, you know what I mean: the sense that we’re hurtling toward catastrophe but nobody wants to hear about it or do anything to avert it.
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...instead it seems that business - like weight loss - is a subject wherein hope and fear inspire limitless gullibility.
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The United States in particular and the West in general should be feeling a little embarrassed about all that lecturing we did to the Third World.
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If you are a good economist, a virtuous economist, you are reborn as a physicist. But if you are an evil, wicked economist, you are reborn as a sociologist.
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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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Outrageous fiscal mendacity is neither historically normal nor bipartisan. It’s a modern Republican thing.
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The trouble with poverty, as an issue, is that it has basically exhausted the patience of the general public.
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For most Americans, economic growth is a spectator sport.
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Economists don't usually make good speculators, because they think too much.
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