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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
Inflation
Feds
Shown
Painful
Tools
Bring
High
Decides
Might
Historically
More quotes by Paul Krugman
The world economy is in a nosedive, and understanding what I call depression economics - the weird world you get into when even a zero interest rate isn't low enough, and a messed-up financial system is dragging down the real economy - is essential if we're going to avoid the worst.
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If you are a good economist, a virtuous economist, you are reborn as a physicist. But if you are an evil, wicked economist, you are reborn as a sociologist.
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Seven habits that help produce the anything-but-efficient markets that rule the world. 1. Think short term. 2. Be greedy. 3. Believe in the greater fool 4. Run with the herd. 5. Overgeneralize 6. Be trendy 7. Play with other people's money
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We should try to create the society each of us would want if we didn't know in advance who we'd be.
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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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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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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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I've always believed in expansionary monetary policy and if necessary fiscal policy when the economy is depressed.
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If Europe’s example is any guide, here are the two secrets of coping with expensive oil: own fuel-efficient cars, and don’t drive them too much.
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It's a funny thing, by the way, how people who love free markets are also quite sure that they know that investors are being irrational.
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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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Default is not in our stars, but in ourselves.
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Economists don't usually make good speculators, because they think too much.
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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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The habit of disguising ideology as expertise has created a deficit of legitimacy.
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Not all private equity people are evil. Only some.
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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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What our economy needs is direct job creation by the government and mortgage-debt relief for stressed consumers. What it very much does not need is a transfer of billions of dollars to corporations that have no intention of hiring anyone except more lobbyists.
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The science fiction world has a lot of people doing seriously imaginative thinking.
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There are no atheists in foxholes and there are no libertarians in financial crises.
Paul Krugman
