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    paul krugman Quotes

    Sometimes economists in official positions give bad advice; sometimes they give very, very bad advice; and sometimes they work at the OECD.
    — Paul Krugman
    tags: work  bad 
     
    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
    tags: control  key 
     
    You really have to go searching desperately to find any contemporary examples of good, old-fashioned runaway inflation.
    — Paul Krugman
    If you want to understand opposition to climate action, follow the money.
    — Paul Krugman
    tags: action  money 
     
    I believe that the only important structural obstacles to world prosperity are the obsolete doctrines that clutter the minds of men.
    — Paul Krugman
    tags: men  world  believe  mind 
     
    Outrageous fiscal mendacity is neither historically normal nor bipartisan. It's a modern Republican thing.
    — Paul Krugman
    Economics is not a morality play.
    — Paul Krugman
    Europe is often held up as a cautionary tale, a demonstration that if you try to make the economy less brutal, to take better care of your fellow citizens when they're down on their luck, you end up killing economic progress. But what European experience actually demonstrates is the opposite: social justice and progress can go hand in hand.
    — Paul Krugman
    In our country, learned ignorance is on the rise.
    — Paul Krugman
    tags: ignorance 
     
    I believe in a relatively equal society, supported by institutions that limit extremes of wealth and poverty. I believe in democracy, civil liberties, and the rule of law. That makes me a liberal, and I'm proud of it.
    — Paul Krugman
    Governments do not necessarily act in the national interest, especially when making detailed microeconomic interventions. Instead, they are influenced by interest group pressures. The kinds of interventions that new trade theory suggests can raise national income will typically raise the welfare of small, fortunate groups by large amounts, while imposing costs on larger, more diffuse groups.
    — Paul Krugman
    tags: government 
     
    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
    tags: society 
     
    Debt is one person's liability, but another person's asset.
    — Paul Krugman
    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
    tags: world  believe  help  rules  money  fools 
     
    There are no atheists in foxholes and there are no libertarians in financial crises.
    — Paul Krugman
    Middle-class societies don't emerge automatically as an economy matures, they have to be CREATED through political action.
    — Paul Krugman
    The economics profession went astray because economists, as a group, mistook beauty, clad in impressive-looking mathematics, for truth.
    — Paul Krugman
    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
    tags: quantity 
     
    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.
    — Paul Krugman
    tags: american 
     
    The growth of the Internet will slow drastically, as the flaw in 'Metcalfe's law'"which states that the number of potential connections in a network is proportional to the square of the number of participants"becomes apparent: most people have nothing to say to each other! By 2005 or so, it will become clear that the Internet's impact on the economy has been no greater than the fax machine's.
    — Paul Krugman
    Rising inequality isn't about who has the knowledge; it's about who has the power.
    — Paul Krugman
    tags: power 
     
    The raw fact is that every successful example of economic development this past century – every case of a poor nation that worked its way up to a more or less decent, or at least dramatically better, standard of living – has taken place via globalization, that is, by producing for the world market rather than trying for self-sufficiency.
    — Paul Krugman
    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.
    — Paul Krugman
    tags: people  care  government  hope 
     
    On the political as on the economic front it's important not to fall into the "not as bad as" trap. High unemployment isn't O.K. just because it hasn't hit 1933 levels; ominous political trends shouldn't be dismissed just because there's no Hitler in sight.
    — Paul Krugman
    tags: bad  political  economics 
     
    There is no economic policy. That's really important to say. The general modus operandi of the Bushies is that they don't make policies to deal with problems. They use problems to justify things they wanted to do anyway. So there is no policy to deal with the lack of jobs. There really isn't even a policy to deal with terrorism. It's all about how can we spin what's happening out there to do what we want to do.
    — Paul Krugman
    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
    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.
    — Paul Krugman
    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.
    — Paul Krugman
    tags: world 
     
    What the Depression teaches us is that when the economy is so depressed that even a zero interest rate isn't low enough, you have to put conventional notions of prudence and sound policy aside.
    — Paul Krugman
    tags: depression 
     
    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.
    — Paul Krugman
    tags: people  year 
     
    For most Americans, economic growth is a spectator sport.
    — Paul Krugman
    There's one thing that the Fed has been really good at cracking down on, and that's inflation.
    — Paul Krugman
    Economists don't usually make good speculators, because they think too much.
    — Paul Krugman
    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.
    — Paul Krugman
    Close the weak banks and impose serious capital requirements on the strong ones...You see, it may sound hard-hearted, but you cannot keep unsound financial institutions operating simply because they provide jobs.
    — Paul Krugman
    tags: job  strong  financial 
     
    The great thing about fiscal policy is that it has a direct impact and doesn't require you to bind the hands of future policymakers.
    — Paul Krugman
    tags: future 
     
    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
    I've always believed in expansionary monetary policy and if necessary fiscal policy when the economy is depressed.
    — Paul Krugman
    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
    tags: work  world  war 
     
    Congress has always had a soft spot for "experts" who tell members what they want to hear, whether it's supply-side economists declaring that tax cuts increase revenue or climate-change skeptics insisting that global warming is a myth.
    — Paul Krugman
    tags: tax  congress 
     
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