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Unsustainable situations usually go on longer than most economists think possible. But they always end, and when they do, it's often painful.

Paul Krugman

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Paul Krugman
Age: 71
Born: 1953
Born: February 28
Blogger
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Economist
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University Teacher
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Albany
New York
Paul Robin Krugman
Paul R Krugman
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Unsustainable
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What our economy needs is direct job creation by the government and mortgage-debt relief for stressed consumers. What it very much does not need is a transfer of billions of dollars to corporations that have no intention of hiring anyone except more lobbyists.
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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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It’s not about the budget it’s about the power...So will the attack on unions succeed? I don’t know. But anyone who cares about retaining government of the people by the people should hope that it doesn’t.
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America's political landscape is infested with many zombie ideas - beliefs about policy that have been repeatedly refuted with evidence and analysis but refuse to die. The most prominent zombie is the insistence that low taxes on rich people are the key to prosperity.
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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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The planet will continue to cook.
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Many people ... prefer to describe themselves as progressives rather than liberals. To some extent that's a response to the decades-long propaganda campaign conducted by movement conservatives, which has been quite successful in making Americans disdain the word liberal but much less successful in reducing support for liberal policies.
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Bad ideas flourish because they are in the interest of powerful groups.
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Republican candidates had to appeal to their base, which is by and large elderly white people arguing with empty chairs.
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The trouble with poverty, as an issue, is that it has basically exhausted the patience of the general public.
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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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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.
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Wealthy Americans who benefit hugely from a system rigged in their favor react with hysteria to anyone who points out just how rigged the system is.
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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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