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When stock prices are rising, it's called ''momentum investing'' when they are falling, it's called ''panic.''

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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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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Surely I'm not the only person to ask the obvious question: How different, really, is Mr. Madoff's tale from the story of the investment industry as a whole?
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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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I have friends, political scientists, sociologists, who all share an interest at least in certain kinds of science fiction.
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Politics determines who has the power, not who has the truth.
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The federal government is basically an insurance company with an army.
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The goal in the end is not to win elections. The goal is to change society.
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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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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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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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The trouble with poverty, as an issue, is that it has basically exhausted the patience of the general public.
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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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The problem with digital books is that you can always find what you are looking for but you need to go to a bookstore to find what you weren't looking for.
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There's nothing magic about spending on tanks and bombs rather than roads and bridges.
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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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Something terrible has happened to the soul of the Republican Party. We've gone from bad economic doctrine. We've even gone beyond selfishness and special interests. At this point we're talking about a state of mind that takes positive glee in inflicting further suffering upon the already miserable.
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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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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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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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