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Tax cuts were not going to be effective at creating jobs, and the job creation record is lousy.

Paul Krugman

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Paul Krugman
Age: 71
Born: 1953
Born: February 28
Blogger
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Economist
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Albany
New York
Paul Robin Krugman
Paul R Krugman
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More quotes by Paul Krugman

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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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The goal in the end is not to win elections. The goal is to change society.
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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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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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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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Generous unemployment benefits can increase both structural and frictional unemployment. So government policies intended to help workers can have the undesirable side effect of raising the natural rate of unemployment.
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Economists don't usually make good speculators, because they think too much.
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There are no atheists in foxholes and there are no libertarians in financial crises.
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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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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.
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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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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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I believe that the only important structural obstacles to world prosperity are the obsolete doctrines that clutter the minds of men.
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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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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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On the political as on the economic front it's important not to fall into the not as bad as trap. High unemployment isn't O.K. just because it hasn't hit 1933 levels ominous political trends shouldn’t be dismissed just because there’s no Hitler in sight.
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Default is not in our stars, but in ourselves.
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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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Bad ideas flourish because they are in the interest of powerful groups.
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