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...instead it seems that business - like weight loss - is a subject wherein hope and fear inspire limitless gullibility.

Paul Krugman

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

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However, the fact that an economist offers a theoretical analysis does not and should not automatically command respect. What is needed is some assurance that the analysis is actually relevant.
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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.
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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.
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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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[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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Outrageous fiscal mendacity is neither historically normal nor bipartisan. It’s a modern Republican thing.
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Economists don't usually make good speculators, because they think too much.
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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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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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These days, however, the main problem comes from the right - from conservatives who, unlike most economists, really do think that the free market is always right - to such an extent that they refuse to believe even the most overwhelming scientific evidence if it seems to suggest a justification for government action.
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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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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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For most Americans, economic growth is a spectator sport.
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The habit of disguising ideology as expertise has created a deficit of legitimacy.
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We have a lot of evidence on what happens when you raise the minimum wage. And the evidence is overwhelmingly positive: Hiking the minimum wage has little or no adverse effect on employment while significantly increasing workers' earnings.
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There's nothing magic about spending on tanks and bombs rather than roads and bridges.
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Tax cuts were not going to be effective at creating jobs, and the job creation record is lousy.
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I really think that people have to think safety taking risks for higher yield is a bad idea once you're in late or latish middle age.
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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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Friedrich Hayek is not an important figure in the history of macroeconomics.
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