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The planet will continue to cook.

Paul Krugman

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Paul Krugman
Age: 71
Born: 1953
Born: February 28
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More quotes by Paul Krugman

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Economists don't usually make good speculators, because they think too much.
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These days, however, the main problem comes from the right - from conservatives who, unlike most economists, really do think that the free market is always right - to such an extent that they refuse to believe even the most overwhelming scientific evidence if it seems to suggest a justification for government action.
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Close the weak banks and impose serious capital requirements on the strong ones...You see, it may sound hard-hearted, but you cannot keep unsound financial institutions operating simply because they provide jobs.
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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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So what are the effects of increasing minimum wages? Any Econ 101 student can tell you the answer: The higher wage reduces the quantity of labor demanded, and hence leads to unemployment.
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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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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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...instead it seems that business - like weight loss - is a subject wherein hope and fear inspire limitless gullibility.
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The party of ideas has become the party of Beavis and Butthead.
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Politics determines who has the power, not who has the truth.
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Obama is very much an establishment sort of guy. The whole image of him as a transcendent figure was based on style rather than substance. If you actually looked at what he said, not how he said it, he said very establishment things. He's a moderate, cautious, ameliorative guy. He tends to gravitate toward Beltway conventional wisdom.
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However, the fact that an economist offers a theoretical analysis does not and should not automatically command respect. What is needed is some assurance that the analysis is actually relevant.
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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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This is a serious analysis of a ridiculous subject, which is of course the opposite of what is usual in economics.
Paul Krugman
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The federal government is basically an insurance company with an army.
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The science fiction world has a lot of people doing seriously imaginative thinking.
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Default is not in our stars, but in ourselves.
Paul Krugman
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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.
Paul Krugman
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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.
Paul Krugman
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The trouble with poverty, as an issue, is that it has basically exhausted the patience of the general public.
Paul Krugman