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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
Blogger
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Albany
New York
Paul Robin Krugman
Paul R Krugman
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More quotes by Paul Krugman
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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Tax cuts were not going to be effective at creating jobs, and the job creation record is lousy.
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Economists don't usually make good speculators, because they think too much.
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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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Are you, or is someone you know, a gadget freak? If so, you doubtless know that Wednesday was iPhone 5 day, the day Apple unveiled its latest way for people to avoid actually speaking to or even looking at whoever they're with.
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The party of ideas has become the party of Beavis and Butthead.
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Can we break the machine that is imposing right-wing radicalism on the United States? The scariest part is that the media is part of that machine.
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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 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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This is a serious analysis of a ridiculous subject, which is of course the opposite of what is usual in economics.
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The public has no idea that the deficit has been falling like a stone.
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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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If you want to understand opposition to climate action, follow the money.
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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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There's nothing magic about spending on tanks and bombs rather than roads and bridges.
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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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Not all private equity people are evil. Only some.
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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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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.
Paul Krugman
