Paul Krugman Quotes - Page 2

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• 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

  Hands, Europe, Opposites

  "Learning From Europe" by Paul Krugman, www.nytimes.com. January 10, 2010.

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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

  Keys, Hands, Invisible Hand

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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

  Money, America, Gold

  "Golden Instability", krugman.blogs.nytimes.com. August 26, 2012.

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• As I've often said, you can shop online and find whatever you're looking for, but bookstores are where you find what you weren't looking for.

  Paul Krugman

  Bookstores, Online, Said

  "Economist Paul Krugman Is a Hard-Core Science Fiction Fan". Wired Interview, www.wired.com. May 30, 2012.

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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

  War, Needs, World

  "Franklin Delano Obama?". www.nytimes.com. November 10, 2008.

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• However, the fact that an economist offers a theoretical analysis does not and should not automatically command respect. What is needed is some assurance that the analysis is actually relevant.

  Paul Krugman

  Doe, Analysis, Facts

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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

  Evil, Wicked, Reborn

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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.

  Paul Krugman

  Believe, Men, Mind

  "The Return of Depression Economics and the Crisis of 2008". Book by Paul Krugman, 2009.

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• If you're doing your job right, some substantial group of people [is] going to be mad at you.

  Paul Krugman

  Jobs, People, Mad

  "Paul Krugman on why Janet Yellen is the un-central banker". Interview with Paul Solman, www.pbs.org. October 30, 2014.

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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.

  Paul Krugman

  Ideas, America, Keys

  "Life, Death and Deficits" by Paul Krugman, www.nytimes.com. November 15, 2012.

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• If we discovered that, you know, space aliens were planning to attack and we needed a massive buildup to counter the space alien threat and really inflation and budget deficits took secondary place to that, this slump would be over in 18 months. ... There was a Twilight Zone episode like this in which scientists fake an alien threat in order to achieve world peace. Well, this time, we don't need it, we need it in order to get some fiscal stimulus.

  Paul Krugman

  Twilight, Order, Space

  "Paul Krugman Calls for Space Aliens to Attack Earth Requiring Massive Defense Buildup to Stimulate Economy". "Fareed Zakaria GPS", www.newsbusters.org. August 14, 2011.

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• In short, it's a great economy if you're a high-level corporate executive or someone who owns a lot of stock. For most other Americans, economic growth is a spectator sport.

  Paul Krugman

  Sports, Growth, Levels

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• The goal in the end is not to win elections. The goal is to change society.

  Paul Krugman

  Winning, Goal, Political

  Interview with Jonathan Tasini, www.playboy.com. February 15, 2012.

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• The real danger with debt is what happens if lots of people decide, or are forced, to pay it off at the same time.

  Paul Krugman

  Real, People, Debt

  "Paul Krugman: 'I'm sick of being Cassandra. I'd like to win for once'". Interview With Decca Aitkenhead, www.theguardian.com. June 3, 2012.

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• Evidence and expertise have a well-known liberal bias.

  Paul Krugman

  Well Known, Evidence, Bias

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• If Europe’s example is any guide, here are the two secrets of coping with expensive oil: own fuel-efficient cars, and don’t drive them too much.

  Paul Krugman

  Europe, Two, Oil

  "Stranded in Suburbia". www.nytimes.com. May 19, 2008.

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• [I]f you look at United States history since World War II, you find that of the 10 presidents who preceded Barack Obama, seven left office with a debt ratio lower than when they came in. Who were the three exceptions? Ronald Reagan and the two George Bushes.

  Paul Krugman

  War, Two, Office

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• 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

  Cutting, Climate, Experts

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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.

  Paul Krugman

  Jobs, Government, Stressed

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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.

  Paul Krugman

  Giving, Advice, Sometimes

  "The Beatings Must Continue" by Paul Krugman, krugman.blogs.nytimes.com. April 30, 2013.

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• ...academic credentials are neither a necessary nor a sufficient condition for having your ideas taken seriously. If a famous professor repeatedly says stupid things, then tries to claim he never said them, there's no rule against calling him a mendacious idiot - and no special qualifications required to make that pronouncement other than doing your own homework.Conversely, if someone without formal credentials consistently makes trenchant, insightful observations, he or she has earned the right to be taken seriously, regardless of background.

  Paul Krugman

  Stupid, Taken, Ideas

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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.

  Paul Krugman

  Believe, Class, America

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• Most people, I suspect, still have in their minds an image of America as the great land of college education, unique in the extent to which higher learning is offered to the population at large. That image used to correspond to reality. But these days young Americans are considerably less likely than young people in many other countries to graduate from college. In fact, we have a college graduation rate that's slightly below the average across all advanced economies.

  Paul Krugman

  Country, Unique, Reality

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• If you want a simple model for predicting the unemployment rate in the United States over the next few years, here it is: It will be what Greenspan wants it to be, plus or minus a random error reflecting the fact that he is not quite God.

  Paul Krugman

  Simple, Errors, Years

  Paul Krugman (2010). “The Accidental Theorist: And Other Dispatches from the Dismal Science”, p.31, W. W. Norton & Company

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• When depression economics prevails, the usual rules of economic policy no longer apply: virtue becomes vice, caution is risky and prudence is folly.

  Paul Krugman

  Vices, Usual, Virtue

  "Depression Economics Returns" by Paul Krugman, www.nytimes.com. November 14, 2008.

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