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The French, unfortunately, actually believe what they say, and that has been very destructive.

Paul Krugman

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Paul Krugman
Age: 71
Born: 1953
Born: February 28
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Paul Robin Krugman
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Economics is not a morality play.
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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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Republican candidates had to appeal to their base, which is by and large elderly white people arguing with empty chairs.
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Not all private equity people are evil. Only some.
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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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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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Outrageous fiscal mendacity is neither historically normal nor bipartisan. It’s a modern Republican thing.
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Bad ideas flourish because they are in the interest of powerful groups.
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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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But where will the Fed find another bubble?
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If you want to understand opposition to climate action, follow the money.
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One way in which Americans have always been exceptional has been in our support for education. First we took the lead in universal primary education then the “high school movement” made us the first nation to embrace widespread secondary education.
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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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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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Under the gold standard America had no major financial panics other than in 1873, 1884, 1890, 1893, 1907, 1930, 1931, 1932, and 1933.
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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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The raw fact is that every successful example of economic development this past century ... has taken place via globalization.
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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 believe that the only important structural obstacles to world prosperity are the obsolete doctrines that clutter the minds of men.
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And when the chickens that didn't hatch come home to roost, we will rue the day when, misled by sloppy accounting and rosy scenarios, we gave away the national nest egg.
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