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When the Fed decides that inflation is too high, they have the tools, and they've shown historically that they have the will, to bring it down. And, it might be painful.
Paul Krugman
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Paul Krugman
Age: 71
Born: 1953
Born: February 28
Blogger
Columnist
Economist
Essayist
Journalist
Pundit
University Teacher
Writer
Albany
New York
Paul Robin Krugman
Paul R Krugman
Tools
Bring
High
Decides
Might
Historically
Inflation
Feds
Shown
Painful
More quotes by Paul Krugman
Many people ... prefer to describe themselves as progressives rather than liberals. To some extent that's a response to the decades-long propaganda campaign conducted by movement conservatives, which has been quite successful in making Americans disdain the word liberal but much less successful in reducing support for liberal policies.
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The goal in the end is not to win elections. The goal is to change society.
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Bad ideas flourish because they are in the interest of powerful groups.
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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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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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Close the weak banks and impose serious capital requirements on the strong ones...You see, it may sound hard-hearted, but you cannot keep unsound financial institutions operating simply because they provide jobs.
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There are no atheists in foxholes and there are no libertarians in financial crises.
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For most Americans, economic growth is a spectator sport.
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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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There's one thing that the Fed has been really good at cracking down on, and that's inflation.
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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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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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[D]ebt increases that didn't arise either from war or from extraordinary financial crisis are entirely associated with hard-line conservative governments.
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Some years down the pike, we're going to get the real solution, which is going to be a combination of death panels and sales taxes. It's going to be that we're actually going to take Medicare under control, and we're going to have to get some additional revenue, probably from a VAT. But it's not going to happen now.
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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 have a lot of evidence on what happens when you raise the minimum wage. And the evidence is overwhelmingly positive: Hiking the minimum wage has little or no adverse effect on employment while significantly increasing workers' earnings.
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The federal government is basically an insurance company with an army.
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If you want to understand opposition to climate action, follow the money.
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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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