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Bad ideas flourish because they are in the interest of powerful groups.

Paul Krugman

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Paul Krugman
Age: 71
Born: 1953
Born: February 28
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Economist
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Albany
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Paul Robin Krugman
Paul R Krugman
Flourish
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More quotes by Paul Krugman

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What our economy needs is direct job creation by the government and mortgage-debt relief for stressed consumers. What it very much does not need is a transfer of billions of dollars to corporations that have no intention of hiring anyone except more lobbyists.
Paul Krugman
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This is a serious analysis of a ridiculous subject, which is of course the opposite of what is usual in economics.
Paul Krugman
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Economists don't usually make good speculators, because they think too much.
Paul Krugman
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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.
Paul Krugman
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Friedrich Hayek is not an important figure in the history of macroeconomics.
Paul Krugman
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Asset bubbles have happened even without not-so-easy money. And, in a depressed economy, where alternative uses of money are not great, people are going to bid up the prices of profitable corporations and stuff like that.
Paul Krugman
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The party of ideas has become the party of Beavis and Butthead.
Paul Krugman
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There are no atheists in foxholes and there are no libertarians in financial crises.
Paul Krugman
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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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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.
Paul Krugman
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Surely I'm not the only person to ask the obvious question: How different, really, is Mr. Madoff's tale from the story of the investment industry as a whole?
Paul Krugman
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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.
Paul Krugman
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There's one thing that the Fed has been really good at cracking down on, and that's inflation.
Paul Krugman
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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.
Paul Krugman
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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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Unsustainable situations usually go on longer than most economists think possible. But they always end, and when they do, it's often painful.
Paul Krugman
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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.
Paul Krugman
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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.
Paul Krugman
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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.
Paul Krugman
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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.
Paul Krugman