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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
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High
Decides
Might
Historically
Inflation
Feds
Shown
Painful

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In short, it's a great economy if you're a high-level corporate executive or someone who owns a lot of stock. For most other Americans, economic growth is a spectator sport.
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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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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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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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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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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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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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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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Not all private equity people are evil. Only some.
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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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The trouble with poverty, as an issue, is that it has basically exhausted the patience of the general public.
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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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By rescuing the financial system without reforming it, Washington has done nothing to protect us from a new crisis, and, in fact, has made another crisis more likely.
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Economists don't usually make good speculators, because they think too much.
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If you want to understand opposition to climate action, follow the money.
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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 public has no idea that the deficit has been falling like a stone.
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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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The great thing about fiscal policy is that it has a direct impact and doesn't require you to bind the hands of future policymakers.
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