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Friedrich Hayek is not an important figure in the history of macroeconomics.
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
Tax cuts were not going to be effective at creating jobs, and the job creation record is lousy.
Paul Krugman
The party of ideas has become the party of Beavis and Butthead.
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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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But where will the Fed find another bubble?
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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.
Paul Krugman
There's nothing magic about spending on tanks and bombs rather than roads and bridges.
Paul Krugman
The public has no idea that the deficit has been falling like a stone.
Paul Krugman
Some years down the pike, we're going to get the real solution, which is going to be a combination of death panels and sales taxes. It's going to be that we're actually going to take Medicare under control, and we're going to have to get some additional revenue, probably from a VAT. But it's not going to happen now.
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Bad ideas flourish because they are in the interest of powerful groups.
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I really think that people have to think safety taking risks for higher yield is a bad idea once you're in late or latish middle age.
Paul Krugman
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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The real danger with debt is what happens if lots of people decide, or are forced, to pay it off at the same time.
Paul Krugman
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
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
Outrageous fiscal mendacity is neither historically normal nor bipartisan. It’s a modern Republican thing.
Paul Krugman
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.
Paul Krugman
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
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
I have friends, political scientists, sociologists, who all share an interest at least in certain kinds of science fiction.
Paul Krugman
The economics profession went astray because economists, as a group, mistook beauty, clad in impressive-looking mathematics, for truth.
Paul Krugman
