Paul Krugman Quotes
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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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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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Debt is one person's liability, but another person's asset.
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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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Most work in macroeconomics in the past 30 years has been useless at best and harmful at worst.
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A message to progressives: By all means, hang Senator Joe Lieberman in effigy.
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But where will the Fed find another bubble?
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I think so long as fossil fuels are cheap, people will use them and it will postpone a movement towards new technologies.
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If you want to understand opposition to climate action, follow the money.
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The federal government is basically an insurance company with an army.
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What happened after 9/11 - and I think even people on the right know this, whether they admit it or not - was deeply shameful. The atrocity should have been a unifying event, but instead it became a wedge issue. Fake heroes like Bernie Kerik, Rudy Giuliani, and, yes, George W. Bush raced to cash in on the horror. And then the attack was used to justify an unrelated war the neocons wanted to fight, for all the wrong reasons....The memory of 9/11 has been irrevocably poisoned; it has become an occasion for shame. And in its heart, the nation knows it.
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You know that Republicans will yell about the evils of partisanship whenever anyone tries to make a connection between the rhetoric of Beck, Limbaugh, etc. and the violence I fear we’re going to see in the months and years ahead. But violent acts are what happen when you create a climate of hate. And it’s long past time for the GOP’s leaders to take a stand against the hate-mongers.
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Our grandfathers lived in a world of largely self-sufficient, inward-looking national economies - but our great-great grandfathers lived, as we do, in a world of large-scale international trade and investment, a world destroyed by nationalism.
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We should reject the attempt to divert the national conversation away from soaring inequality toward the alleged moral failings of those Americans being left behind. Traditional values aren't as crucial as social conservatives would have you believe and, in any case, the social changes taking place in America's working class are overwhelmingly the consequence of sharply rising inequality, not its cause.
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There are no atheists in foxholes and there are no libertarians in financial crisis.
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Sometimes economists in official positions give bad advice; sometimes they give very, very bad advice; and sometimes they work at the OECD.
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Politics determines who has the power, not who has the truth.
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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.
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Raising the minimum wage and lowering the barriers to union organization would carry a trade-off - higher unemployment. A better idea is to have the government subsidize low-wage employment. The earned-income tax credit for low-income workers - which has been the object of proposed cuts by both President Clinton and congressional Republicans - has been a positive step in this direction.
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For most Americans, economic growth is a spectator sport.
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There's one thing that the Fed has been really good at cracking down on, and that's inflation.
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The French, unfortunately, actually believe what they say, and that has been very destructive.
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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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People who are complaining about the Fed are people who've been predicting runaway inflation for five and six years, and it hasn't happened.