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Economics is not a morality play.

Paul Krugman

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Paul Krugman
Age: 71
Born: 1953
Born: February 28
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More quotes by Paul Krugman

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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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When depression economics prevails, the usual rules of economic policy no longer apply: virtue becomes vice, caution is risky and prudence is folly.
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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 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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Are you, or is someone you know, a gadget freak? If so, you doubtless know that Wednesday was iPhone 5 day, the day Apple unveiled its latest way for people to avoid actually speaking to or even looking at whoever they're with.
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Bad ideas flourish because they are in the interest of powerful groups.
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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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The economics profession went astray because economists, as a group, mistook beauty, clad in impressive-looking mathematics, for truth.
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The federal government is basically an insurance company with an army.
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Economists don't usually make good speculators, because they think too much.
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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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[D]ebt increases that didn't arise either from war or from extraordinary financial crisis are entirely associated with hard-line conservative governments.
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There's nothing magic about spending on tanks and bombs rather than roads and bridges.
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Outrageous fiscal mendacity is neither historically normal nor bipartisan. It’s a modern Republican thing.
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Friedrich Hayek is not an important figure in the history of macroeconomics.
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There are no atheists in foxholes and there are no libertarians in financial crises.
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But where will the Fed find another bubble?
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The party of ideas has become the party of Beavis and Butthead.
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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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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.
Paul Krugman