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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.

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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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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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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As I've often said, you can shop online and find whatever you're looking for, but bookstores are where you find what you weren't looking for.
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There's one thing that the Fed has been really good at cracking down on, and that's inflation.
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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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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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Friedrich Hayek is not an important figure in the history of macroeconomics.
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There's nothing magic about spending on tanks and bombs rather than roads and bridges.
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Politics determines who has the power, not who has the truth.
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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 public has no idea that the deficit has been falling like a stone.
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Wealthy Americans who benefit hugely from a system rigged in their favor react with hysteria to anyone who points out just how rigged the system is.
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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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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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If you want to understand opposition to climate action, follow the money.
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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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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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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 science fiction world has a lot of people doing seriously imaginative thinking.
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