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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 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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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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Republican candidates had to appeal to their base, which is by and large elderly white people arguing with empty chairs.
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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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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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There are no atheists in foxholes and there are no libertarians in financial crises.
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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.
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The economics profession went astray because economists, as a group, mistook beauty, clad in impressive-looking mathematics, for truth.
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There's one thing that the Fed has been really good at cracking down on, and that's inflation.
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For most Americans, economic growth is a spectator sport.
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The public has no idea that the deficit has been falling like a stone.
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Close the weak banks and impose serious capital requirements on the strong ones...You see, it may sound hard-hearted, but you cannot keep unsound financial institutions operating simply because they provide jobs.
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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.
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The federal government is basically an insurance company with an army.
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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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Our grandfathers lived in a world of largely self-sufficient, inward-looking national economies - but our great-great grandfathers lived, as we do, in a world of large-scale international trade and investment, a world destroyed by nationalism.
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Every once in a while I feel despair over the fate of the planet. If you’ve been following climate science, you know what I mean: the sense that we’re hurtling toward catastrophe but nobody wants to hear about it or do anything to avert it.
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If Europe’s example is any guide, here are the two secrets of coping with expensive oil: own fuel-efficient cars, and don’t drive them too much.
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There's nothing magic about spending on tanks and bombs rather than roads and bridges.
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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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