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There's one thing that the Fed has been really good at cracking down on, and that's inflation.

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
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Paul Robin Krugman
Paul R Krugman
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The habit of disguising ideology as expertise has created a deficit of legitimacy.
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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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The party of ideas has become the party of Beavis and Butthead.
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Economists don't usually make good speculators, because they think too much.
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I've always believed in expansionary monetary policy and if necessary fiscal policy when the economy is depressed.
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as an economics professor I am by nature inclined to the view that the truth isn't out there, it's in here - that usually you learn a lot more by thinking really hard about the data than you do by sniffing around for supposedly inside information.
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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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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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This is a serious analysis of a ridiculous subject, which is of course the opposite of what is usual in economics.
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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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I think Stockman is an interesting sort of amalgam.
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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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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.
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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 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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...instead it seems that business - like weight loss - is a subject wherein hope and fear inspire limitless gullibility.
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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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The planet will continue to cook.
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Coming up with a good idea, with an insight into the way the world works that is really new and that you really believe in, is a deeply satisfying experience.
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Every once in a while I feel despair over the fate of the planet. If you’ve been following climate science, you know what I mean: the sense that we’re hurtling toward catastrophe but nobody wants to hear about it or do anything to avert it.
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