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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
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More quotes by Paul Krugman

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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.
Paul Krugman
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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
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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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So what are the effects of increasing minimum wages? Any Econ 101 student can tell you the answer: The higher wage reduces the quantity of labor demanded, and hence leads to unemployment.
Paul Krugman
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Not all private equity people are evil. Only some.
Paul Krugman
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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
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One way in which Americans have always been exceptional has been in our support for education. First we took the lead in universal primary education then the “high school movement” made us the first nation to embrace widespread secondary education.
Paul Krugman
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There are no atheists in foxholes and there are no libertarians in financial crises.
Paul Krugman
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For most Americans, economic growth is a spectator sport.
Paul Krugman
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The federal government is basically an insurance company with an army.
Paul Krugman
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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.
Paul Krugman
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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.
Paul Krugman
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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.
Paul Krugman
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The science fiction world has a lot of people doing seriously imaginative thinking.
Paul Krugman
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I believe that the only important structural obstacles to world prosperity are the obsolete doctrines that clutter the minds of men.
Paul Krugman
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Bad ideas flourish because they are in the interest of powerful groups.
Paul Krugman
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When depression economics prevails, the usual rules of economic policy no longer apply: virtue becomes vice, caution is risky and prudence is folly.
Paul Krugman
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This is a serious analysis of a ridiculous subject, which is of course the opposite of what is usual in economics.
Paul Krugman
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If you want to understand opposition to climate action, follow the money.
Paul Krugman
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In short, it's a great economy if you're a high-level corporate executive or someone who owns a lot of stock. For most other Americans, economic growth is a spectator sport.
Paul Krugman