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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
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Albany
New York
Paul Robin Krugman
Paul R Krugman
Feds
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Inflation
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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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Friedrich Hayek is not an important figure in the history of macroeconomics.
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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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America's political landscape is infested with many zombie ideas - beliefs about policy that have been repeatedly refuted with evidence and analysis but refuse to die. The most prominent zombie is the insistence that low taxes on rich people are the key to prosperity.
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Unsustainable situations usually go on longer than most economists think possible. But they always end, and when they do, it's often painful.
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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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I have friends, political scientists, sociologists, who all share an interest at least in certain kinds of science fiction.
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Economists don't usually make good speculators, because they think too much.
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Default is not in our stars, but in ourselves.
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What saved the economy, and the New Deal, was the enormous public works project known as World War II, which finally provided a fiscal stimulus adequate to the economy’s needs.
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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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It’s not about the budget it’s about the power...So will the attack on unions succeed? I don’t know. But anyone who cares about retaining government of the people by the people should hope that it doesn’t.
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Can we break the machine that is imposing right-wing radicalism on the United States? The scariest part is that the media is part of that machine.
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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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When stock prices are rising, it's called ''momentum investing'' when they are falling, it's called ''panic.''
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The goal in the end is not to win elections. The goal is to change society.
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Whenever you see some business person quoted complaining about how he or she can't find workers with the necessary skills, ask what wage they're offering. Almost always it turns out what said business person really wants is highly (and expensively) educated workers at a manual-labor wage. No wonder they come up short.
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For most Americans, economic growth is a spectator sport.
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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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