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If you are a good economist, a virtuous economist, you are reborn as a physicist. But if you are an evil, wicked economist, you are reborn as a sociologist.

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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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.
Paul Krugman
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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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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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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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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.
Paul Krugman
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Under the gold standard America had no major financial panics other than in 1873, 1884, 1890, 1893, 1907, 1930, 1931, 1932, and 1933.
Paul Krugman
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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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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.
Paul Krugman
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The French, unfortunately, actually believe what they say, and that has been very destructive.
Paul Krugman
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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.
Paul Krugman
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...instead it seems that business - like weight loss - is a subject wherein hope and fear inspire limitless gullibility.
Paul Krugman
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What saved the economy, and the New Deal, was the enormous public works project known as World War II, which finally provided a fiscal stimulus adequate to the economy’s needs.
Paul Krugman
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The raw fact is that every successful example of economic development this past century ... has taken place via globalization.
Paul Krugman
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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.
Paul Krugman
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Seven habits that help produce the anything-but-efficient markets that rule the world. 1. Think short term. 2. Be greedy. 3. Believe in the greater fool 4. Run with the herd. 5. Overgeneralize 6. Be trendy 7. Play with other people's money
Paul Krugman
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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.
Paul Krugman
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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.
Paul Krugman
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Friedrich Hayek is not an important figure in the history of macroeconomics.
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.
Paul Krugman
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Republican candidates had to appeal to their base, which is by and large elderly white people arguing with empty chairs.
Paul Krugman