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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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Paul Krugman
Age: 71
Born: 1953
Born: February 28
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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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The federal government is basically an insurance company with an army.
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Coming up with a good idea, with an insight into the way the world works that is really new and that you really believe in, is a deeply satisfying experience.
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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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The habit of disguising ideology as expertise has created a deficit of legitimacy.
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Friedrich Hayek is not an important figure in the history of macroeconomics.
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Unsustainable situations usually go on longer than most economists think possible. But they always end, and when they do, it's often painful.
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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.
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There are no atheists in foxholes and there are no libertarians in financial crises.
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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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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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Economics is not a morality play.
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Consumer spending is now plunging at serious-recession rate ... even if the rescue now in train succeeds in unfreezing credit markets, the real economy has immense downward momentum. In addition to financial rescues, we need major stimulus programs.
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I've always believed in expansionary monetary policy and if necessary fiscal policy when the economy is depressed.
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Economists don't usually make good speculators, because they think too much.
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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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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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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.
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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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