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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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More quotes by Paul Krugman

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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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But where will the Fed find another bubble?
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I really think that people have to think safety taking risks for higher yield is a bad idea once you're in late or latish middle age.
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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 important thing to understand is that the case for pollution control isn't based on some kind of aesthetic distaste for industrial society. Pollution does real, measurable damage, especially to human health.
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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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I have friends, political scientists, sociologists, who all share an interest at least in certain kinds of science fiction.
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The party of ideas has become the party of Beavis and Butthead.
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Bad ideas flourish because they are in the interest of powerful groups.
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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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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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When the Fed decides that inflation is too high, they have the tools, and they've shown historically that they have the will, to bring it down. And, it might be painful.
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Tax cuts were not going to be effective at creating jobs, and the job creation record is lousy.
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One way in which Americans have always been exceptional has been in our support for education. First we took the lead in universal primary education then the “high school movement” made us the first nation to embrace widespread secondary education.
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There's nothing magic about spending on tanks and bombs rather than roads and bridges.
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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.
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as an economics professor I am by nature inclined to the view that the truth isn't out there, it's in here - that usually you learn a lot more by thinking really hard about the data than you do by sniffing around for supposedly inside information.
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Outrageous fiscal mendacity is neither historically normal nor bipartisan. It’s a modern Republican thing.
Paul Krugman
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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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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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