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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
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Paul Krugman
Age: 71
Born: 1953
Born: February 28
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Albany
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Paul Robin Krugman
Paul R Krugman
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More quotes by Paul Krugman
Outrageous fiscal mendacity is neither historically normal nor bipartisan. It’s a modern Republican thing.
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What our economy needs is direct job creation by the government and mortgage-debt relief for stressed consumers. What it very much does not need is a transfer of billions of dollars to corporations that have no intention of hiring anyone except more lobbyists.
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The United States in particular and the West in general should be feeling a little embarrassed about all that lecturing we did to the Third World.
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I'm especially baffled by the idea of taking insurance against a U.S. default. If America defaults, we're talking about a chaotic world - Mad Max, more or less - in which case, who imagines that insurance claims will be honored?
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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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The key reason executives are paid so much now is that they appoint the members of the corporate board that determines their compensation and control many of the perks that board members count on. So it's not the invisible hand of the market that leads to those monumental executive incomes it's the invisible handshake in the boardroom.
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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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[D]ebt increases that didn't arise either from war or from extraordinary financial crisis are entirely associated with hard-line conservative governments.
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I have friends, political scientists, sociologists, who all share an interest at least in certain kinds of science fiction.
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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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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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The raw fact is that every successful example of economic development this past century ... has taken place via globalization.
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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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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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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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There's one thing that the Fed has been really good at cracking down on, and that's inflation.
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If you can create even the illusion of high profitability for a few years, then when the thing collapses you can walk out of the wreckage a very rich man.
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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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The federal government is basically an insurance company with an army.
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When the Fed decides that inflation is too high, they have the tools, and they've shown historically that they have the will, to bring it down. And, it might be painful.
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