Quote

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.

Paul Krugman

Change background

T
T
T

Change font

TAGS & TOPICS

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
Economic
Began
Working
Significant
Looks
Profit
Great
Gains
Never
Americans
Ordinary
Profits
Produce
Expansion
Environment
Corporate

More quotes by Paul Krugman

Image
as an economics professor I am by nature inclined to the view that the truth isn't out there, it's in here - that usually you learn a lot more by thinking really hard about the data than you do by sniffing around for supposedly inside information.
Paul Krugman
Image
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
Paul Krugman
Image
Republican candidates had to appeal to their base, which is by and large elderly white people arguing with empty chairs.
Paul Krugman
Image
Asset bubbles have happened even without not-so-easy money. And, in a depressed economy, where alternative uses of money are not great, people are going to bid up the prices of profitable corporations and stuff like that.
Paul Krugman
Image
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.
Paul Krugman
Image
Economics is not a morality play.
Paul Krugman
Image
The world economy is in a nosedive, and understanding what I call depression economics - the weird world you get into when even a zero interest rate isn't low enough, and a messed-up financial system is dragging down the real economy - is essential if we're going to avoid the worst.
Paul Krugman
Image
The great thing about fiscal policy is that it has a direct impact and doesn't require you to bind the hands of future policymakers.
Paul Krugman
Image
Consumer spending is now plunging at serious-recession rate ... even if the rescue now in train succeeds in unfreezing credit markets, the real economy has immense downward momentum. In addition to financial rescues, we need major stimulus programs.
Paul Krugman
Image
Anyone who thinks that the last 80 years, ever since FDR took us off gold, have been a doomed venture, that strikes me as kind of cranky.
Paul Krugman
Image
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
Image
If you want to understand opposition to climate action, follow the money.
Paul Krugman
Image
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.
Paul Krugman
Image
Whenever you see some business person quoted complaining about how he or she can't find workers with the necessary skills, ask what wage they're offering. Almost always it turns out what said business person really wants is highly (and expensively) educated workers at a manual-labor wage. No wonder they come up short.
Paul Krugman
Image
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.
Paul Krugman
Image
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.
Paul Krugman
Image
The public has no idea that the deficit has been falling like a stone.
Paul Krugman
Image
Bad ideas flourish because they are in the interest of powerful groups.
Paul Krugman
Image
Unsustainable situations usually go on longer than most economists think possible. But they always end, and when they do, it's often painful.
Paul Krugman
Image
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.
Paul Krugman