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But where will the Fed find another bubble?

Paul Krugman

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Paul Krugman
Age: 71
Born: 1953
Born: February 28
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The science fiction world has a lot of people doing seriously imaginative thinking.
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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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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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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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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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I believe that the only important structural obstacles to world prosperity are the obsolete doctrines that clutter the minds of men.
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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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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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The raw fact is that every successful example of economic development this past century ... has taken place via globalization.
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I have friends, political scientists, sociologists, who all share an interest at least in certain kinds of science fiction.
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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 planet will continue to cook.
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Bad ideas flourish because they are in the interest of powerful groups.
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Generous unemployment benefits can increase both structural and frictional unemployment. So government policies intended to help workers can have the undesirable side effect of raising the natural rate of unemployment.
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I'm especially baffled by the idea of taking insurance against a U.S. default. If America defaults, we're talking about a chaotic world - Mad Max, more or less - in which case, who imagines that insurance claims will be honored?
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Seven habits that help produce the anything-but-efficient markets that rule the world. 1. Think short term. 2. Be greedy. 3. Believe in the greater fool 4. Run with the herd. 5. Overgeneralize 6. Be trendy 7. Play with other people's money
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...instead it seems that business - like weight loss - is a subject wherein hope and fear inspire limitless gullibility.
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There's nothing magic about spending on tanks and bombs rather than roads and bridges.
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For most Americans, economic growth is a spectator sport.
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Default is not in our stars, but in ourselves.
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