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If Europe’s example is any guide, here are the two secrets of coping with expensive oil: own fuel-efficient cars, and don’t drive them too much.

Paul Krugman

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Paul Krugman
Age: 71
Born: 1953
Born: February 28
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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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There are no atheists in foxholes and there are no libertarians in financial crises.
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If you are a good economist, a virtuous economist, you are reborn as a physicist. But if you are an evil, wicked economist, you are reborn as a sociologist.
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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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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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Under the gold standard America had no major financial panics other than in 1873, 1884, 1890, 1893, 1907, 1930, 1931, 1932, and 1933.
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The science fiction world has a lot of people doing seriously imaginative thinking.
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Asset bubbles have happened even without not-so-easy money. And, in a depressed economy, where alternative uses of money are not great, people are going to bid up the prices of profitable corporations and stuff like that.
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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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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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By rescuing the financial system without reforming it, Washington has done nothing to protect us from a new crisis, and, in fact, has made another crisis more likely.
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Default is not in our stars, but in ourselves.
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And when the chickens that didn't hatch come home to roost, we will rue the day when, misled by sloppy accounting and rosy scenarios, we gave away the national nest egg.
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For most Americans, economic growth is a spectator sport.
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What saved the economy, and the New Deal, was the enormous public works project known as World War II, which finally provided a fiscal stimulus adequate to the economy’s needs.
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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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We should try to create the society each of us would want if we didn't know in advance who we'd be.
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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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Bad ideas flourish because they are in the interest of powerful groups.
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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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