---
title: "17 Has beens Quotes By Paul Krugman"
description: "17 Has beens quotes by Paul Krugman. Plus more from Paul Krugman and more Has beens sayings from other authors."
image: "https://sms4smile.com/quotes/i/6b8/paul-krugman-2255_deficit_the-public-has-no-idea-that-the-deficit_1550805.png"
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> [The public has no idea that the deficit has been falling like a stone.](https://sms4smile.com/quotes/paul-krugman/the-public-has-no-idea-that-the-deficit-has-been-falling-like-a-stone/)

[Paul Krugman](https://sms4smile.com/quotes/author/paul-krugman/)

[Image](https://sms4smile.com/quotes/i/6b8/paul-krugman-2255_deficit_the-public-has-no-idea-that-the-deficit_1550805.png)

> [The French, unfortunately, actually believe what they say, and that has been very destructive.](https://sms4smile.com/quotes/paul-krugman/the-french-unfortunately-actually-believe-what-they-say-and-that-has/)

[Paul Krugman](https://sms4smile.com/quotes/author/paul-krugman/)

[Image](https://sms4smile.com/quotes/i/172/paul-krugman-2255_believe_the-french-unfortunately-actually-believ_2045113.png)

> [Most work in macroeconomics in the past 30 years has been useless at best and harmful at worst.](https://sms4smile.com/quotes/paul-krugman/most-work-in-macroeconomics-in-the-past-30-years-has-been-useless-at/)

[Paul Krugman](https://sms4smile.com/quotes/author/paul-krugman/)

[Image](https://sms4smile.com/quotes/i/e98/paul-krugman-2255_has-beens_most-work-in-macroeconomics-in-the-past_994839.png)

> [There's one thing that the Fed has been really good at cracking down on, and that's inflation.](https://sms4smile.com/quotes/paul-krugman/there-s-one-thing-that-the-fed-has-been-really-good-at-cracking-down/)

[Paul Krugman](https://sms4smile.com/quotes/author/paul-krugman/)

[Image](https://sms4smile.com/quotes/i/47e/paul-krugman-2255_cracking_there-s-one-thing-that-the-fed-has-been_1938166.png)

> [Anyone who thinks that the last 80 years, ever since FDR took us off gold, have been a doomed venture, that strikes…](https://sms4smile.com/quotes/paul-krugman/anyone-who-thinks-that-the-last-80-years-ever-since-fdr-took-us-off/)

[Paul Krugman](https://sms4smile.com/quotes/author/paul-krugman/)

[Image](https://sms4smile.com/quotes/i/420/paul-krugman-2255_cranky_anyone-who-thinks-that-the-last-80-years_1953410.png)

> [One way in which Americans have always been exceptional has been in our support for education. First we took the lead in…](https://sms4smile.com/quotes/paul-krugman/one-way-in-which-americans-have-always-been-exceptional-has-been-in/)

[Paul Krugman](https://sms4smile.com/quotes/author/paul-krugman/)

[Image](https://sms4smile.com/quotes/i/b55/paul-krugman-2255_education_one-way-in-which-americans-have-always-b_2961561.png)

> [America's political landscape is infested with many zombie ideas - beliefs about policy that have been repeatedly refuted with evidence and analysis…](https://sms4smile.com/quotes/paul-krugman/america-s-political-landscape-is-infested-with-many-zombie-ideas/)

[Paul Krugman](https://sms4smile.com/quotes/author/paul-krugman/)

[Image](https://sms4smile.com/quotes/i/7ff/paul-krugman-2255_america_america-s-political-landscape-is-infeste_990122.png)

> [The economic expansion that began in 2001, while it has been great for corporate profits, has yet to produce any significant gains…](https://sms4smile.com/quotes/paul-krugman/the-economic-expansion-that-began-in-2001-while-it-has-been-great-for/)

[Paul Krugman](https://sms4smile.com/quotes/author/paul-krugman/)

[Image](https://sms4smile.com/quotes/i/618/paul-krugman-2255_corporate_the-economic-expansion-that-began-in-200_1812440.jpg)

> [It has been obvious all along, to anyone paying attention, that the politicians shouting loudest about deficits are actually using deficit hysteria…](https://sms4smile.com/quotes/paul-krugman/it-has-been-obvious-all-along-to-anyone-paying-attention-that-the/)

[Paul Krugman](https://sms4smile.com/quotes/author/paul-krugman/)

[Image](https://sms4smile.com/quotes/i/5f6/paul-krugman-2255_agendas_it-has-been-obvious-all-along-to-anyone_1022540.jpg)

> [I've always believed that a speculative bubble need not lead to a recession, as long as interest rates are cut quickly enough…](https://sms4smile.com/quotes/paul-krugman/i-ve-always-believed-that-a-speculative-bubble-need-not-lead-to-a/)

[Paul Krugman](https://sms4smile.com/quotes/author/paul-krugman/)

[Image](https://sms4smile.com/quotes/i/23e/paul-krugman-2255_alternatives_i-ve-always-believed-that-a-speculative_1595485.png)

> [There has been plenty to criticize about President Obama’s handling of the economy. Yet the overriding story of the past few years…](https://sms4smile.com/quotes/paul-krugman/there-has-been-plenty-to-criticize-about-president-obama-s-handling/)

[Paul Krugman](https://sms4smile.com/quotes/author/paul-krugman/)

[Image](https://sms4smile.com/quotes/i/07d/paul-krugman-2255_blocked_there-has-been-plenty-to-criticize-about_2081211.png)

> [The growth of the Internet will slow drastically, as the flaw in 'Metcalfe's law'–which states that the number of potential connections in…](https://sms4smile.com/quotes/paul-krugman/the-growth-of-the-internet-will-slow-drastically-as-the-flaw-in/)

[Paul Krugman](https://sms4smile.com/quotes/author/paul-krugman/)

[Image](https://sms4smile.com/quotes/i/c30/paul-krugman-2255_clear_the-growth-of-the-internet-will-slow-dra_260689.png)

> [So, very early reports are that Obamacare exchanges are, as expected, having some technical glitches on the first day — maybe even…](https://sms4smile.com/quotes/paul-krugman/so-very-early-reports-are-that-obamacare-exchanges-are-as-expected/)

[Paul Krugman](https://sms4smile.com/quotes/author/paul-krugman/)

[Image](https://sms4smile.com/quotes/i/3ed/paul-krugman-2255_bad-news_so-very-early-reports-are-that-obamacare_565606.png)

> [Raising the minimum wage and lowering the barriers to union organization would carry a trade-off - higher unemployment. A better idea is…](https://sms4smile.com/quotes/paul-krugman/raising-the-minimum-wage-and-lowering-the-barriers-to-union/)

[Paul Krugman](https://sms4smile.com/quotes/author/paul-krugman/)

[Image](https://sms4smile.com/quotes/i/be6/paul-krugman-2255_barriers_raising-the-minimum-wage-and-lowering-th_2045527.png)

> [If you had to explain America's economic success with one word, that word would be "education"… Until now, the results of educational…](https://sms4smile.com/quotes/paul-krugman/if-you-had-to-explain-america-s-economic-success-with-one-word-that/)

[Paul Krugman](https://sms4smile.com/quotes/author/paul-krugman/)

[Image](https://sms4smile.com/quotes/i/7d6/paul-krugman-2255_america_if-you-had-to-explain-america-s-economic_2835659.png)

> [What happened after 9/11 - and I think even people on the right know this, whether they admit it or not -…](https://sms4smile.com/quotes/paul-krugman/what-happened-after-9-11-and-i-think-even-people-on-the-right-know/)

[Paul Krugman](https://sms4smile.com/quotes/author/paul-krugman/)

[Image](https://sms4smile.com/quotes/i/013/paul-krugman-2255_atrocities_what-happened-after-9-11-and-i-think-eve_1556067.png)

> [Many people ... prefer to describe themselves as progressives rather than liberals. To some extent that's a response to the decades-long propaganda…](https://sms4smile.com/quotes/paul-krugman/many-people-prefer-to-describe-themselves-as-progressives-rather-than/)

[Paul Krugman](https://sms4smile.com/quotes/author/paul-krugman/)

[Image](https://sms4smile.com/quotes/i/56a/paul-krugman-2255_campaigns_many-people-prefer-to-describe-themselve_3151821.png)

## Other authors on Has beens

## More by Paul Krugman

> [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.](https://sms4smile.com/quotes/paul-krugman/people-who-are-complaining-about-the-fed-are-people-who-ve-been/)

[Paul Krugman](https://sms4smile.com/quotes/author/paul-krugman/)

> [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…](https://sms4smile.com/quotes/paul-krugman/surely-i-m-not-the-only-person-to-ask-the-obvious-question-how/)

[Paul Krugman](https://sms4smile.com/quotes/author/paul-krugman/)

> [“The rich are different from you and me: they have more influence.”](https://sms4smile.com/quotes/paul-krugman/the-rich-are-different-from-you-and-me-they-have-more-influence/)

[Paul Krugman](https://sms4smile.com/quotes/author/paul-krugman/)

> [“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.…](https://sms4smile.com/quotes/paul-krugman/the-internet-s-impact-on-the-economy-has-been-no-greater-than-the-fax/)

[Paul Krugman](https://sms4smile.com/quotes/author/paul-krugman/)

> [Not all private equity people are evil. Only some.](https://sms4smile.com/quotes/paul-krugman/not-all-private-equity-people-are-evil-only-some/)

[Paul Krugman](https://sms4smile.com/quotes/author/paul-krugman/)

> [You really have to go searching desperately to find any contemporary examples of good, old-fashioned runaway inflation.](https://sms4smile.com/quotes/paul-krugman/you-really-have-to-go-searching-desperately-to-find-any-contemporary/)

[Paul Krugman](https://sms4smile.com/quotes/author/paul-krugman/)

> [However, the fact that an economist offers a theoretical analysis does not and should not automatically command respect. What is needed is some assurance…](https://sms4smile.com/quotes/paul-krugman/however-the-fact-that-an-economist-offers-a-theoretical-analysis-does/)

[Paul Krugman](https://sms4smile.com/quotes/author/paul-krugman/)

> [Politics determines who has the power, not who has the truth.](https://sms4smile.com/quotes/paul-krugman/politics-determines-who-has-the-power-not-who-has-the-truth/)

[Paul Krugman](https://sms4smile.com/quotes/author/paul-krugman/)

> [The key reason executives are paid so much now is that they appoint the members of the corporate board that determines their compensation and…](https://sms4smile.com/quotes/paul-krugman/the-key-reason-executives-are-paid-so-much-now-is-that-they-appoint/)

[Paul Krugman](https://sms4smile.com/quotes/author/paul-krugman/)

> [I've always believed in expansionary monetary policy and if necessary fiscal policy when the economy is depressed.](https://sms4smile.com/quotes/paul-krugman/i-ve-always-believed-in-expansionary-monetary-policy-and-if-necessary/)

[Paul Krugman](https://sms4smile.com/quotes/author/paul-krugman/)

> [...academic credentials are neither a necessary nor a sufficient condition for having your ideas taken seriously. If a famous professor repeatedly says stupid things,…](https://sms4smile.com/quotes/paul-krugman/academic-credentials-are-neither-a-necessary-nor-a-sufficient/)

[Paul Krugman](https://sms4smile.com/quotes/author/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…](https://sms4smile.com/quotes/paul-krugman/it-s-not-about-the-budget-it-s-about-the-power-so-will-the-attack-on/)

[Paul Krugman](https://sms4smile.com/quotes/author/paul-krugman/)

> [When stock prices are rising, it's called ''momentum investing''; when they are falling, it's called ''panic.''](https://sms4smile.com/quotes/paul-krugman/when-stock-prices-are-rising-it-s-called-momentum-investing-when-they/)

[Paul Krugman](https://sms4smile.com/quotes/author/paul-krugman/)

> [I don't want a job in the administration; I think I'm more effective carping from the sidelines.](https://sms4smile.com/quotes/paul-krugman/i-don-t-want-a-job-in-the-administration-i-think-i-m-more-effective/)

[Paul Krugman](https://sms4smile.com/quotes/author/paul-krugman/)

> [Under the gold standard America had no major financial panics other than in 1873, 1884, 1890, 1893, 1907, 1930, 1931, 1932, and 1933.](https://sms4smile.com/quotes/paul-krugman/under-the-gold-standard-america-had-no-major-financial-panics-other/)

[Paul Krugman](https://sms4smile.com/quotes/author/paul-krugman/)

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                        "text": "The economic expansion that began in 2001, while it has been great for corporate profits, has yet to produce any significant gains for ordinary working Americans. And now it looks as if it never will.",
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                        "text": "It has been obvious all along, to anyone paying attention, that the politicians shouting loudest about deficits are actually using deficit hysteria as a cover story for their real agenda, which is top-down class warfare. To put it in Romneyesque terms, it's all about finding an excuse to slash programs that help people who like to watch Nascar events, even while lavishing tax cuts on people who like to own Nascar teams.",
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                        "text": "I've always believed that a speculative bubble need not lead to a recession, as long as interest rates are cut quickly enough to stimulate alternative investments. But I had to face the fact that speculative bubbles usually are followed by recessions. My excuse has been that this was because the policy makers moved too slowly - that central banks were typically too slow to cut interest rates in the face of a burst bubble, giving the downturn time to build up a lot of momentum.",
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                        "text": "There has been plenty to criticize about President Obama’s handling of the economy. Yet the overriding story of the past few years is not Mr. Obama’s mistakes but the scorched-earth opposition of Republicans, who have done everything they can to get in his way - and who now, having blocked the president’s policies, hope to win the White House by claiming that his policies have failed.",
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                        "text": "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.",
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                        "text": "So, very early reports are that Obamacare exchanges are, as expected, having some technical glitches on the first day — maybe even a bit worse than expected, because it appears that volume has been much bigger than predicted. Here’s what you need to know: this is good, not bad, news for the program. Lots of people logging on and signing up on the very first day is an early indication that it’s going to be fine, that plenty of people will sign up for the first year of health reform.",
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                        "text": "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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                        "text": "If you had to explain America's economic success with one word, that word would be \"education\"… Until now, the results of educational neglect have been gradual - a slow-motion erosion of America's relative position. But things are about to get much worse, as the economic crisis ... deals a severe blow to education across the board… We need to wake up and realize that one of the keys to our nation's historic success is now a wasting asset. Education made America great; neglect of education can reverse the process.",
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                        "text": "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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                        "text": "Many people ... prefer to describe themselves as progressives rather than liberals. To some extent that's a response to the decades-long propaganda campaign conducted by movement conservatives, which has been quite successful in making Americans disdain the word liberal but much less successful in reducing support for liberal policies.",
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