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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
Columnist
Economist
Essayist
Journalist
Pundit
University Teacher
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Albany
New York
Paul Robin Krugman
Paul R Krugman
Magic
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Nothing
Tanks
Roads
Bombs
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More quotes by Paul Krugman

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If you want to understand opposition to climate action, follow the 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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But where will the Fed find another bubble?
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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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The public has no idea that the deficit has been falling like a stone.
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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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I've always believed in expansionary monetary policy and if necessary fiscal policy when the economy is depressed.
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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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There are no atheists in foxholes and there are no libertarians in financial crises.
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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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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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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?
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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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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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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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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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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 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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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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