Quote

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

Change background

T
T
T

Change font

TAGS & TOPICS

Paul Krugman
Age: 71
Born: 1953
Born: February 28
Blogger
Columnist
Economist
Essayist
Journalist
Pundit
University Teacher
Writer
Albany
New York
Paul Robin Krugman
Paul R Krugman
Economy
Project
Public
Enormous
Known
Saved
War
Finally
Needs
Projects
Fiscal
World
Works
Stimulus
Deal
Adequate
Deals
Provided

More quotes by Paul Krugman

Image
The French, unfortunately, actually believe what they say, and that has been very destructive.
Paul Krugman
Image
Whenever you see some business person quoted complaining about how he or she can't find workers with the necessary skills, ask what wage they're offering. Almost always it turns out what said business person really wants is highly (and expensively) educated workers at a manual-labor wage. No wonder they come up short.
Paul Krugman
Image
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.
Paul Krugman
Image
...instead it seems that business - like weight loss - is a subject wherein hope and fear inspire limitless gullibility.
Paul Krugman
Image
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
Image
I've always believed in expansionary monetary policy and if necessary fiscal policy when the economy is depressed.
Paul Krugman
Image
Outrageous fiscal mendacity is neither historically normal nor bipartisan. It’s a modern Republican thing.
Paul Krugman
Image
I have friends, political scientists, sociologists, who all share an interest at least in certain kinds of science fiction.
Paul Krugman
Image
The goal in the end is not to win elections. The goal is to change society.
Paul Krugman
Image
Default is not in our stars, but in ourselves.
Paul Krugman
Image
Unsustainable situations usually go on longer than most economists think possible. But they always end, and when they do, it's often painful.
Paul Krugman
Image
The real danger with debt is what happens if lots of people decide, or are forced, to pay it off at the same time.
Paul Krugman
Image
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
Paul Krugman
Image
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.
Paul Krugman
Image
Anyone who thinks that the last 80 years, ever since FDR took us off gold, have been a doomed venture, that strikes me as kind of cranky.
Paul Krugman
Image
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.
Paul Krugman
Image
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.
Paul Krugman
Image
But where will the Fed find another bubble?
Paul Krugman
Image
The important thing to understand is that the case for pollution control isn't based on some kind of aesthetic distaste for industrial society. Pollution does real, measurable damage, especially to human health.
Paul Krugman
Image
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.
Paul Krugman