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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.

Paul Krugman

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Paul Krugman
Age: 71
Born: 1953
Born: February 28
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Tax cuts were not going to be effective at creating jobs, and the job creation record is lousy.
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These days, however, the main problem comes from the right - from conservatives who, unlike most economists, really do think that the free market is always right - to such an extent that they refuse to believe even the most overwhelming scientific evidence if it seems to suggest a justification for government action.
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For most Americans, economic growth is a spectator sport.
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When the Fed decides that inflation is too high, they have the tools, and they've shown historically that they have the will, to bring it down. And, it might be painful.
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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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When stock prices are rising, it's called ''momentum investing'' when they are falling, it's called ''panic.''
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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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Many people ... prefer to describe themselves as progressives rather than liberals. To some extent that's a response to the decades-long propaganda campaign conducted by movement conservatives, which has been quite successful in making Americans disdain the word liberal but much less successful in reducing support for liberal policies.
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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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