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There are no atheists in foxholes and there are no libertarians in financial crises.

Paul Krugman

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Paul Krugman
Age: 71
Born: 1953
Born: February 28
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Paul Robin Krugman
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Not all private equity people are evil. Only some.
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Asset bubbles have happened even without not-so-easy money. And, in a depressed economy, where alternative uses of money are not great, people are going to bid up the prices of profitable corporations and stuff like that.
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The planet will continue to cook.
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I think Stockman is an interesting sort of amalgam.
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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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The science fiction world has a lot of people doing seriously imaginative thinking.
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I'm especially baffled by the idea of taking insurance against a U.S. default. If America defaults, we're talking about a chaotic world - Mad Max, more or less - in which case, who imagines that insurance claims will be honored?
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Surely I'm not the only person to ask the obvious question: How different, really, is Mr. Madoff's tale from the story of the investment industry as a whole?
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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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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 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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For most Americans, economic growth is a spectator sport.
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The goal in the end is not to win elections. The goal is to change society.
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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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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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Every once in a while I feel despair over the fate of the planet. If you’ve been following climate science, you know what I mean: the sense that we’re hurtling toward catastrophe but nobody wants to hear about it or do anything to avert it.
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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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Bad ideas flourish because they are in the interest of powerful groups.
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When stock prices are rising, it's called ''momentum investing'' when they are falling, it's called ''panic.''
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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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