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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.
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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University Teacher
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Albany
New York
Paul Robin Krugman
Paul R Krugman
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More quotes by Paul Krugman
I'm especially baffled by the idea of taking insurance against a U.S. default. If America defaults, we're talking about a chaotic world - Mad Max, more or less - in which case, who imagines that insurance claims will be honored?
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Outrageous fiscal mendacity is neither historically normal nor bipartisan. It’s a modern Republican thing.
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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.
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Something terrible has happened to the soul of the Republican Party. We've gone from bad economic doctrine. We've even gone beyond selfishness and special interests. At this point we're talking about a state of mind that takes positive glee in inflicting further suffering upon the already miserable.
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[D]ebt increases that didn't arise either from war or from extraordinary financial crisis are entirely associated with hard-line conservative governments.
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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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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.
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By rescuing the financial system without reforming it, Washington has done nothing to protect us from a new crisis, and, in fact, has made another crisis more likely.
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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.
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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 French, unfortunately, actually believe what they say, and that has been very destructive.
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The trouble with poverty, as an issue, is that it has basically exhausted the patience of the general public.
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Republican candidates had to appeal to their base, which is by and large elderly white people arguing with empty chairs.
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The public has no idea that the deficit has been falling like a stone.
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Politics determines who has the power, not who has the truth.
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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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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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The key reason executives are paid so much now is that they appoint the members of the corporate board that determines their compensation and control many of the perks that board members count on. So it's not the invisible hand of the market that leads to those monumental executive incomes it's the invisible handshake in the boardroom.
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We should try to create the society each of us would want if we didn't know in advance who we'd be.
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