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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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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 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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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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Friedrich Hayek is not an important figure in the history of macroeconomics.
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The science fiction world has a lot of people doing seriously imaginative thinking.
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The federal government is basically an insurance company with an army.
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Economists don't usually make good speculators, because they think too much.
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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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I've always believed in expansionary monetary policy and if necessary fiscal policy when the economy is depressed.
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On the political as on the economic front it's important not to fall into the not as bad as trap. High unemployment isn't O.K. just because it hasn't hit 1933 levels ominous political trends shouldn’t be dismissed just because there’s no Hitler in sight.
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Bad ideas flourish because they are in the interest of powerful groups.
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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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[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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There's nothing magic about spending on tanks and bombs rather than roads and bridges.
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If you want to understand opposition to climate action, follow the money.
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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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There are no atheists in foxholes and there are no libertarians in financial crises.
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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.
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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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Some years down the pike, we're going to get the real solution, which is going to be a combination of death panels and sales taxes. It's going to be that we're actually going to take Medicare under control, and we're going to have to get some additional revenue, probably from a VAT. But it's not going to happen now.
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