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Anyone who thinks that the last 80 years, ever since FDR took us off gold, have been a doomed venture, that strikes me as kind of cranky.
Paul Krugman
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Paul Krugman
Age: 71
Born: 1953
Born: February 28
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Albany
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Paul Robin Krugman
Paul R Krugman
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Obama is very much an establishment sort of guy. The whole image of him as a transcendent figure was based on style rather than substance. If you actually looked at what he said, not how he said it, he said very establishment things. He's a moderate, cautious, ameliorative guy. He tends to gravitate toward Beltway conventional wisdom.
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The public has no idea that the deficit has been falling like a stone.
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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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The science fiction world has a lot of people doing seriously imaginative thinking.
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If you can create even the illusion of high profitability for a few years, then when the thing collapses you can walk out of the wreckage a very rich man.
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...instead it seems that business - like weight loss - is a subject wherein hope and fear inspire limitless gullibility.
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The raw fact is that every successful example of economic development this past century ... has taken place via globalization.
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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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The key reason executives are paid so much now is that they appoint the members of the corporate board that determines their compensation and control many of the perks that board members count on. So it's not the invisible hand of the market that leads to those monumental executive incomes it's the invisible handshake in the boardroom.
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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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Default is not in our stars, but in ourselves.
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Something terrible has happened to the soul of the Republican Party. We've gone from bad economic doctrine. We've even gone beyond selfishness and special interests. At this point we're talking about a state of mind that takes positive glee in inflicting further suffering upon the already miserable.
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