Middle-class societies don't emerge automatically as an economy matures, they have to be CREATED through political action. — Paul Krugman Copy Share Image
The raw fact is that every successful example of economic development this past century ... has taken place via globalization. — Paul Krugman Copy Share Image
This is a serious analysis of a ridiculous subject, which is of course the opposite of what is usual in economics. — Paul Krugman Copy Share Image
Friedrich Hayek is not an important figure in the history of macroeconomics. — Paul Krugman Copy Share Image
Economists don't usually make good speculators, because they think too much. — Paul Krugman Copy Share Image
When depression economics prevails, the usual rules of economic policy no longer apply: virtue becomes vice, caution is risky and prudence is… — Paul Krugman Copy Share Image
Generous unemployment benefits can increase both structural and frictional unemployment. So government policies intended to help workers can have the undesirable side… — Paul Krugman Copy Share Image
Sometimes economists in official positions give bad advice; sometimes they give very, very bad advice; and sometimes they work at the OECD. — Paul Krugman Copy Share Image
People respond to incentives. If unemployment becomes more attractive because of the unemployment benefit, some unemployed workers may no longer try to… — Paul Krugman Copy Share Image
However, the fact that an economist offers a theoretical analysis does not and should not automatically command respect. What is needed is… — Paul Krugman Copy Share Image
Close the weak banks and impose serious capital requirements on the strong ones...You see, it may sound hard-hearted, but you cannot keep… — Paul Krugman Copy Share Image
“The Internet’s impact on the economy has been no greater than the fax machine’s….ten years from now, the phrase “information economy” will… — Paul Krugman Copy Share Image
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… — Paul Krugman Copy Share Image
I've always believed that a speculative bubble need not lead to a recession, as long as interest rates are cut quickly enough… — Paul Krugman Copy Share Image
Until the Great Depression, most economists clung to a vision of capitalism as a perfect or nearly perfect system. That vision wasn’t… — Paul Krugman Copy Share Image
Raising the minimum wage and lowering the barriers to union organization would carry a trade-off - higher unemployment. A better idea is… — Paul Krugman Copy Share Image
Our popular economics writers, however, are not in the business of giving their readers a ringside seat on the research action; with… — Paul Krugman Copy Share Image
The world economy is in a nosedive, and understanding what I call "depression economics" - the weird world you get into when… — Paul Krugman Copy Share Image
The raw fact is that every successful example of economic development this past century every case of a poor nation that… — Paul Krugman Copy Share Image
Governments do not necessarily act in the national interest, especially when making detailed microeconomic interventions. Instead, they are influenced by interest group… — Paul Krugman Copy Share Image
It should be possible to emphasize to students that the level of employment is a macroeconomic issue, depending in the short run… — Paul Krugman Copy Share Image
In short, what the living wage is really about is not living standards, or even economics, but morality. Its advocates are basically… — Paul Krugman Copy Share Image
“Economics is really about two stories. One is the story of the old economist and younger economist walking down the street, and… — Paul Krugman Copy Share Image
“The appeal to the intellectually insecure is also more important than it might seem. Because economics touches so much of life, everyone… — Paul Krugman Copy Share Image
“These are tough times for state governments. Huge deficits loom almost everywhere, from California to New York, from New Jersey to Texas.… — Paul Krugman Copy Share Image
“The media are desperately afraid of being accused of bias. And that's partly because there's a whole machine out there, an organized… — Paul Krugman Copy Share Image
“And that's just the beginning. More and more, conventional wisdom says that the responsible thing is to make the unemployed suffer. And… — Paul Krugman Copy Share Image
Asset bubbles have happened even without not-so-easy money. And, in a depressed economy, where alternative uses of money are not great, people… — Paul Krugman Copy Share Image
We know that advanced economies with stable governments that borrow in their own currency are capable of running up very high levels… — Paul Krugman Copy Share Image
Consumer spending is now plunging at serious-recession rate ... even if the rescue now in train succeeds in unfreezing credit markets, the… — Paul Krugman Copy Share Image
If you are a good economist, a virtuous economist, you are reborn as a physicist. But if you are an evil, wicked… — Paul Krugman Copy Share Image
The economics profession went astray because economists, as a group, mistook beauty, clad in impressive-looking mathematics, for truth. — Paul Krugman Copy Share Image
What our economy needs is direct job creation by the government and mortgage-debt relief for stressed consumers. What it very much does… — Paul Krugman Copy Share Image
In fact, I'd say that the sources of the economy's expansion from 2003 to 2007 were, in order, the housing bubble, the… — Paul Krugman Copy Share Image
as an economics professor I am by nature inclined to the view that the truth isn't out there, it's in here -… — Paul Krugman Copy Share Image
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 Copy Share Image
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… — Paul Krugman Copy Share Image
“The Internet’s impact on the economy has been no greater than the fax machine’s….ten years from now, the phrase “information economy” will sound silly.… — Paul Krugman Copy Share Image
You really have to go searching desperately to find any contemporary examples of good, old-fashioned runaway inflation. — Paul Krugman Copy Share Image
However, the fact that an economist offers a theoretical analysis does not and should not automatically command respect. What is needed is some assurance… — Paul Krugman Copy Share Image
The key reason executives are paid so much now is that they appoint the members of the corporate board that determines their compensation and… — Paul Krugman Copy Share Image
I've always believed in expansionary monetary policy and if necessary fiscal policy when the economy is depressed. — Paul Krugman Copy Share Image
...academic credentials are neither a necessary nor a sufficient condition for having your ideas taken seriously. If a famous professor repeatedly says stupid things,… — Paul Krugman Copy Share Image
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… — Paul Krugman Copy Share Image
