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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
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Paul Krugman
Age: 71
Born: 1953
Born: February 28
Blogger
Columnist
Economist
Essayist
Journalist
Pundit
University Teacher
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Albany
New York
Paul Robin Krugman
Paul R Krugman
Impact
Direct
Policy
Future
Doesn
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Fiscal
Great
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Require
More quotes by Paul Krugman
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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The federal government is basically an insurance company with an army.
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We have a lot of evidence on what happens when you raise the minimum wage. And the evidence is overwhelmingly positive: Hiking the minimum wage has little or no adverse effect on employment while significantly increasing workers' earnings.
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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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I have friends, political scientists, sociologists, who all share an interest at least in certain kinds of science fiction.
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Politics determines who has the power, not who has the truth.
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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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The raw fact is that every successful example of economic development this past century ... has taken place via globalization.
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The habit of disguising ideology as expertise has created a deficit of legitimacy.
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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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Can we break the machine that is imposing right-wing radicalism on the United States? The scariest part is that the media is part of that machine.
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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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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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Economists don't usually make good speculators, because they think too much.
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The public has no idea that the deficit has been falling like a stone.
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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.
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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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Not all private equity people are evil. Only some.
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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.
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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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