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Asset bubbles have happened even without not-so-easy money. And, in a depressed economy, where alternative uses of money are not great, people are going to bid up the prices of profitable corporations and stuff like that.
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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Pundit
University Teacher
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Albany
New York
Paul Robin Krugman
Paul R Krugman
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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 party of ideas has become the party of Beavis and Butthead.
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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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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 habit of disguising ideology as expertise has created a deficit of legitimacy.
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Bad ideas flourish because they are in the interest of powerful groups.
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