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There's nothing magic about spending on tanks and bombs rather than roads and bridges.

Paul Krugman

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Paul Krugman
Age: 71
Born: 1953
Born: February 28
Blogger
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Economist
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Albany
New York
Paul Robin Krugman
Paul R Krugman
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Friedrich Hayek is not an important figure in the history of macroeconomics.
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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.
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When stock prices are rising, it's called ''momentum investing'' when they are falling, it's called ''panic.''
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The federal government is basically an insurance company with an army.
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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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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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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 French, unfortunately, actually believe what they say, and that has been very destructive.
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America's political landscape is infested with many zombie ideas - beliefs about policy that have been repeatedly refuted with evidence and analysis but refuse to die. The most prominent zombie is the insistence that low taxes on rich people are the key to prosperity.
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Politics determines who has the power, not who has the truth.
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It's a funny thing, by the way, how people who love free markets are also quite sure that they know that investors are being irrational.
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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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Economists don't usually make good speculators, because they think too much.
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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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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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The trouble with poverty, as an issue, is that it has basically exhausted the patience of the general public.
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For most Americans, economic growth is a spectator sport.
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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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We're living in a Dark Age of macroeconomics. Remember, what defined the Dark Ages wasn’t the fact that they were primitive — the Bronze Age was primitive, too. What made the Dark Ages dark was the fact that so much knowledge had been lost, that so much known to the Greeks and Romans had been forgotten by the barbarian kingdoms that followed.
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