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I've always believed in expansionary monetary policy and if necessary fiscal policy when the economy is depressed.

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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University Teacher
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Albany
New York
Paul Robin Krugman
Paul R Krugman
Fiscal
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Always

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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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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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We're living in a Dark Age of macroeconomics. Remember, what defined the Dark Ages wasn’t the fact that they were primitive — the Bronze Age was primitive, too. What made the Dark Ages dark was the fact that so much knowledge had been lost, that so much known to the Greeks and Romans had been forgotten by the barbarian kingdoms that followed.
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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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The French, unfortunately, actually believe what they say, and that has been very destructive.
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Economists don't usually make good speculators, because they think too much.
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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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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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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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But where will the Fed find another bubble?
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The public has no idea that the deficit has been falling like a stone.
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Our grandfathers lived in a world of largely self-sufficient, inward-looking national economies - but our great-great grandfathers lived, as we do, in a world of large-scale international trade and investment, a world destroyed by nationalism.
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The federal government is basically an insurance company with an army.
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Not all private equity people are evil. Only some.
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