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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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Paul Krugman
Age: 71
Born: 1953
Born: February 28
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Albany
New York
Paul Robin Krugman
Paul R Krugman
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More quotes by Paul Krugman
Friedrich Hayek is not an important figure in the history of macroeconomics.
Paul Krugman
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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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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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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I think Stockman is an interesting sort of amalgam.
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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.
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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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The real danger with debt is what happens if lots of people decide, or are forced, to pay it off at the same time.
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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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The science fiction world has a lot of people doing seriously imaginative thinking.
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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.
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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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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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Default is not in our stars, but in ourselves.
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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.
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Tax cuts were not going to be effective at creating jobs, and the job creation record is lousy.
Paul Krugman
Bad ideas flourish because they are in the interest of powerful groups.
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Many people ... prefer to describe themselves as progressives rather than liberals. To some extent that's a response to the decades-long propaganda campaign conducted by movement conservatives, which has been quite successful in making Americans disdain the word liberal but much less successful in reducing support for liberal policies.
Paul Krugman
I believe that the only important structural obstacles to world prosperity are the obsolete doctrines that clutter the minds of men.
Paul Krugman
Our grandfathers lived in a world of largely self-sufficient, inward-looking national economies - but our great-great grandfathers lived, as we do, in a world of large-scale international trade and investment, a world destroyed by nationalism.
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