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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.

Paul Krugman

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Paul Krugman
Age: 71
Born: 1953
Born: February 28
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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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I think Stockman is an interesting sort of amalgam.
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Where's that toxic rhetoric coming from? Let's not make a false pretense of balance: it's coming, overwhelmingly, from the right. It's hard to imagine a Democratic member of Congress urging constituents to be armed and dangerous without being ostracized but Representative Michele Bachmann, who did just that, is a rising star in the G.O.P.
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But where will the Fed find another bubble?
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As I've often said, you can shop online and find whatever you're looking for, but bookstores are where you find what you weren't looking for.
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The important thing to understand is that the case for pollution control isn't based on some kind of aesthetic distaste for industrial society. Pollution does real, measurable damage, especially to human health.
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Economists don't usually make good speculators, because they think too much.
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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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The goal in the end is not to win elections. The goal is to change society.
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Friedrich Hayek is not an important figure in the history of macroeconomics.
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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.
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Not all private equity people are evil. Only some.
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The public has no idea that the deficit has been falling like a stone.
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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.
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The French, unfortunately, actually believe what they say, and that has been very destructive.
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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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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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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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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.
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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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