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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.
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
Fact
Rescuing
Facts
Reforming
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Washington
Without
Likely
Nothing
Financial
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Crisis
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Protect
System
More quotes by Paul Krugman
But where will the Fed find another bubble?
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On the political as on the economic front it's important not to fall into the not as bad as trap. High unemployment isn't O.K. just because it hasn't hit 1933 levels ominous political trends shouldn’t be dismissed just because there’s no Hitler in sight.
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And when the chickens that didn't hatch come home to roost, we will rue the day when, misled by sloppy accounting and rosy scenarios, we gave away the national nest egg.
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If you want to understand opposition to climate action, follow the money.
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There are no atheists in foxholes and there are no libertarians in financial crises.
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We have a lot of evidence on what happens when you raise the minimum wage. And the evidence is overwhelmingly positive: Hiking the minimum wage has little or no adverse effect on employment while significantly increasing workers' earnings.
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Economists don't usually make good speculators, because they think too much.
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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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The public has no idea that the deficit has been falling like a stone.
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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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There's nothing magic about spending on tanks and bombs rather than roads and bridges.
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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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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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The habit of disguising ideology as expertise has created a deficit of legitimacy.
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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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...instead it seems that business - like weight loss - is a subject wherein hope and fear inspire limitless gullibility.
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The party of ideas has become the party of Beavis and Butthead.
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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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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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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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