---
title: "Best Paul Krugman Quotations"
description: "Paul Krugman is an American economist and professor at the City University of New York. He wrote a New York Times column from 2000 to 2024 and won the 2..."
image: "https://sms4smile.com/quotes/wp-content/uploads/sms4s/authors/processed/b056/author-paul-krugman-2255.jpg"
---

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# Paul Krugman

(1953)   Columnist

 **175** quotes in **1168** categories

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Paul Krugman is a columnist, best known for *ARGUING WITH ZOMBIES*.

## Quick Facts About Paul Krugman

Born February 28, 1953

Profession Columnist

Notable works ARGUING WITH ZOMBIES

## About Paul Krugman

His full name is Paul Robin Krugman, and he holds the title of Distinguished Professor of Economics at the Graduate Center of the City University of New York. The Nobel Committee highlighted his research on how economies of scale and consumer preferences shape international trade patterns and where economic activity is located.

##  Quotes by Paul Krugman · Page 4

> [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…](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/)

[Budgets](https://sms4smile.com/quotes/about/budgets/)

[Image](https://sms4smile.com/quotes/i/042/paul-krugman-2255_budgets_it-s-not-about-the-budget-it-s-about-the_165738.png)

> [“If it were profitable to have indentured servants in the modern world, I'm sure that Richard Scaife's think tanks would have no…](https://sms4smile.com/quotes/paul-krugman/if-it-were-profitable-to-have-indentured-servants-in-the-modern-world/)

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

[Modern world](https://sms4smile.com/quotes/about/modern-world/)

[Image](https://sms4smile.com/quotes/i/097/paul-krugman-2255_modern-world_if-it-were-profitable-to-have-indentured_590695.png)

> [What the Depression teaches us is that when the economy is so depressed that even a zero interest rate isn't low enough,…](https://sms4smile.com/quotes/paul-krugman/what-the-depression-teaches-us-is-that-when-the-economy-is-so/)

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

[Conventional](https://sms4smile.com/quotes/about/conventional/)

[Image](https://sms4smile.com/quotes/i/787/paul-krugman-2255_conventional_what-the-depression-teaches-us-is-that-w_3132359.png)

> [Asset bubbles have happened even without not-so-easy money. And, in a depressed economy, where alternative uses of money are not great, people…](https://sms4smile.com/quotes/paul-krugman/asset-bubbles-have-happened-even-without-not-so-easy-money-and-in-a/)

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

[Alternatives](https://sms4smile.com/quotes/about/alternatives/)

[Image](https://sms4smile.com/quotes/i/d1c/paul-krugman-2255_alternatives_asset-bubbles-have-happened-even-without_1085879.png)

> [We know that advanced economies with stable governments that borrow in their own currency are capable of running up very high levels…](https://sms4smile.com/quotes/paul-krugman/we-know-that-advanced-economies-with-stable-governments-that-borrow/)

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

[Capable](https://sms4smile.com/quotes/about/capable/)

[Image](https://sms4smile.com/quotes/i/d7c/paul-krugman-2255_capable_we-know-that-advanced-economies-with-sta_2944032.png)

> [I really think that people have to think safety; taking risks for higher yield is a bad idea once you're in late…](https://sms4smile.com/quotes/paul-krugman/i-really-think-that-people-have-to-think-safety-taking-risks-for/)

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[Age](https://sms4smile.com/quotes/about/age/)

[Image](https://sms4smile.com/quotes/i/a08/paul-krugman-2255_age_i-really-think-that-people-have-to-think_623042.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/)

[Corporate](https://sms4smile.com/quotes/about/corporate/)

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

> [“I joked back in the summer of 2011 that what we really need right now is a fake threat of alien invasion…](https://sms4smile.com/quotes/paul-krugman/i-joked-back-in-the-summer-of-2011-that-what-we-really-need-right-now/)

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

[Alien invasion](https://sms4smile.com/quotes/about/alien-invasion/)

[Image](https://sms4smile.com/quotes/i/890/paul-krugman-2255_alien-invasion_i-joked-back-in-the-summer-of-2011-that_685134.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/)

[Barriers](https://sms4smile.com/quotes/about/barriers/)

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

> [For decades the G.O.P. has won elections by appealing to social and racial divisions, only to turn after each victory to deregulation…](https://sms4smile.com/quotes/paul-krugman/for-decades-the-g-o-p-has-won-elections-by-appealing-to-social-and/)

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

[America](https://sms4smile.com/quotes/about/america/)

[Image](https://sms4smile.com/quotes/i/c27/paul-krugman-2255_america_for-decades-the-g-o-p-has-won-elections_1031792.png)

> [“These senior claims were supposed to be very low-risk; after all, how likely was it that a large number of people would…](https://sms4smile.com/quotes/paul-krugman/these-senior-claims-were-supposed-to-be-very-low-risk-after-all-how/)

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[Customer](https://sms4smile.com/quotes/about/customer/)

[Image](https://sms4smile.com/quotes/i/c38/paul-krugman-2255_customer_these-senior-claims-were-supposed-to-be_1411443.png)

> [Yes, over the centuries economic progress has reduced some gross disparities - modern Americans are relatively unlikely to simply starve to death…](https://sms4smile.com/quotes/paul-krugman/yes-over-the-centuries-economic-progress-has-reduced-some-gross/)

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[Century](https://sms4smile.com/quotes/about/century/)

[Image](https://sms4smile.com/quotes/i/690/paul-krugman-2255_century_yes-over-the-centuries-economic-progress_1836946.png)

> [These days, however, the main problem comes from the right - from conservatives who, unlike most economists, really do think that the…](https://sms4smile.com/quotes/paul-krugman/these-days-however-the-main-problem-comes-from-the-right-from/)

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

[Action](https://sms4smile.com/quotes/about/action/)

[Image](https://sms4smile.com/quotes/i/117/paul-krugman-2255_action_these-days-however-the-main-problem-come_2825362.jpg)

> [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/)

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[Clear](https://sms4smile.com/quotes/about/clear/)

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

> [Until the Great Depression, most economists clung to a vision of capitalism as a perfect or nearly perfect system. That vision wasn’t…](https://sms4smile.com/quotes/paul-krugman/until-the-great-depression-most-economists-clung-to-a-vision-of/)

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

[Capitalism](https://sms4smile.com/quotes/about/capitalism/)

[Image](https://sms4smile.com/quotes/i/15c/paul-krugman-2255_capitalism_until-the-great-depression-most-economis_2356812.png)

> [Wealthy individuals bought themselves a radical right party, believing - correctly - that it would cut their taxes and remove regulations, but…](https://sms4smile.com/quotes/paul-krugman/wealthy-individuals-bought-themselves-a-radical-right-party-believing/)

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

[Believe](https://sms4smile.com/quotes/about/believe/)

[Image](https://sms4smile.com/quotes/i/075/paul-krugman-2255_believe_wealthy-individuals-bought-themselves-a_1901305.png)

> [ \[I\]f you look at United States history since World War II, you find that of the 10 presidents who preceded Barack Obama,… ](https://sms4smile.com/quotes/paul-krugman/i-f-you-look-at-united-states-history-since-world-war-ii-you-find/)

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

[Barack](https://sms4smile.com/quotes/about/barack/)

[Image](https://sms4smile.com/quotes/i/197/paul-krugman-2255_barack_i-f-you-look-at-united-states-history-si_1148835.jpg)

> [Surely I'm not the only person to ask the obvious question: How different, really, is Mr. Madoff's tale from the story of…](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/)

[Asks](https://sms4smile.com/quotes/about/asks/)

[Image](https://sms4smile.com/quotes/i/5cd/paul-krugman-2255_asks_surely-i-m-not-the-only-person-to-ask-th_29496.png)

> [What saved the economy, and the New Deal, was the enormous public works project known as World War II, which finally provided…](https://sms4smile.com/quotes/paul-krugman/what-saved-the-economy-and-the-new-deal-was-the-enormous-public-works/)

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

[Adequate](https://sms4smile.com/quotes/about/adequate/)

[Image](https://sms4smile.com/quotes/i/2eb/paul-krugman-2255_adequate_what-saved-the-economy-and-the-new-deal_2186275.png)

> [“And that's just the beginning. More and more, conventional wisdom says that the responsible thing is to make the unemployed suffer. And…](https://sms4smile.com/quotes/paul-krugman/and-that-s-just-the-beginning-more-and-more-conventional-wisdom-says/)

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

[2010](https://sms4smile.com/quotes/about/zz-2010-587/)

[Image](https://sms4smile.com/quotes/i/d72/paul-krugman-2255_2010_and-that-s-just-the-beginning-more-and-m_2042520.jpg)

> [Unsustainable situations usually go on longer than most economists think possible. But they always end, and when they do, it's often painful.](https://sms4smile.com/quotes/paul-krugman/unsustainable-situations-usually-go-on-longer-than-most-economists/)

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

[Economist](https://sms4smile.com/quotes/about/economist/)

[Image](https://sms4smile.com/quotes/i/296/paul-krugman-2255_economist_unsustainable-situations-usually-go-on-l_2110245.png)

> [Congress has always had a soft spot for "experts" who tell members what they want to hear, whether it's supply-side economists declaring…](https://sms4smile.com/quotes/paul-krugman/congress-has-always-had-a-soft-spot-for-experts-who-tell-members-what/)

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

[Climate](https://sms4smile.com/quotes/about/climate/)

[Image](https://sms4smile.com/quotes/i/8a3/paul-krugman-2255_climate_congress-has-always-had-a-soft-spot-for_1341641.jpg)

> [Close the weak banks and impose serious capital requirements on the strong ones...You see, it may sound hard-hearted, but you cannot keep…](https://sms4smile.com/quotes/paul-krugman/close-the-weak-banks-and-impose-serious-capital-requirements-on-the/)

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

[Banks](https://sms4smile.com/quotes/about/banks/)

[Image](https://sms4smile.com/quotes/i/b8a/paul-krugman-2255_banks_close-the-weak-banks-and-impose-serious_2236330.jpg)

> [Can we break the machine that is imposing right-wing radicalism on the United States? The scariest part is that the media is…](https://sms4smile.com/quotes/paul-krugman/can-we-break-the-machine-that-is-imposing-right-wing-radicalism-on/)

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

[Break](https://sms4smile.com/quotes/about/break/)

[Image](https://sms4smile.com/quotes/i/e9c/paul-krugman-2255_break_can-we-break-the-machine-that-is-imposin_1582070.png)

> [“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…](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/)

[Economics](https://sms4smile.com/quotes/about/economics/)

[Image](https://sms4smile.com/quotes/i/81e/paul-krugman-2255_economics_the-internet-s-impact-on-the-economy-has_33687.png)

> [If you can create even the illusion of high profitability for a few years, then when the thing collapses you can walk…](https://sms4smile.com/quotes/paul-krugman/if-you-can-create-even-the-illusion-of-high-profitability-for-a-few/)

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

[Collapse](https://sms4smile.com/quotes/about/collapse/)

[Image](https://sms4smile.com/quotes/i/426/paul-krugman-2255_collapse_if-you-can-create-even-the-illusion-of-h_2064438.png)

> [If the price of everything is going down, that's going to include wages as well. People will have an incentive to sit…](https://sms4smile.com/quotes/paul-krugman/if-the-price-of-everything-is-going-down-that-s-going-to-include/)

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

[Cash](https://sms4smile.com/quotes/about/cash/)

[Image](https://sms4smile.com/quotes/i/2cf/paul-krugman-2255_cash_if-the-price-of-everything-is-going-down_3185985.png)

> [ \[I\]n America, at least, we have a pretty good record for behaving in a fiscally responsible fashion, with one exception - namely,… ](https://sms4smile.com/quotes/paul-krugman/i-n-america-at-least-we-have-a-pretty-good-record-for-behaving-in-a/)

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

[America](https://sms4smile.com/quotes/about/america/)

[Image](https://sms4smile.com/quotes/i/564/paul-krugman-2255_america_i-n-america-at-least-we-have-a-pretty-go_2809306.jpg)

> [However, the fact that an economist offers a theoretical analysis does not and should not automatically command respect. What is needed is…](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/)

[Analysis](https://sms4smile.com/quotes/about/analysis/)

[Image](https://sms4smile.com/quotes/i/823/paul-krugman-2255_analysis_however-the-fact-that-an-economist-offer_71171.png)

> [ \[The US\] budget is dominated by the retirement programs, Social Security and Medicare - loosely speaking, the post-cold-war federal government is a… ](https://sms4smile.com/quotes/paul-krugman/the-us-budget-is-dominated-by-the-retirement-programs-social-security/)

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

[Army](https://sms4smile.com/quotes/about/army/)

[Image](https://sms4smile.com/quotes/i/ed9/paul-krugman-2255_army_the-us-budget-is-dominated-by-the-retire_1183597.png)

> [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…](https://sms4smile.com/quotes/paul-krugman/in-short-it-s-a-great-economy-if-you-re-a-high-level-corporate/)

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

[Corporate](https://sms4smile.com/quotes/about/corporate/)

[Image](https://sms4smile.com/quotes/i/b87/paul-krugman-2255_corporate_in-short-it-s-a-great-economy-if-you-re_1725866.png)

> [“I’ve been thinking a lot lately about the power of doctrines — how support for a false dogma can become politically mandatory,…](https://sms4smile.com/quotes/paul-krugman/i-ve-been-thinking-a-lot-lately-about-the-power-of-doctrines-how/)

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

[Dogmas Stronger](https://sms4smile.com/quotes/about/dogmas-stronger-3679864/)

[Image](https://sms4smile.com/quotes/i/5f6/paul-krugman-2255_dogmas-stronger_i-ve-been-thinking-a-lot-lately-about-th_2023695.jpg)

> [When the Fed decides that inflation is too high, they have the tools, and they've shown historically that they have the will,…](https://sms4smile.com/quotes/paul-krugman/when-the-fed-decides-that-inflation-is-too-high-they-have-the-tools/)

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

[Customer](https://sms4smile.com/quotes/about/customer/)

[Image](https://sms4smile.com/quotes/i/226/paul-krugman-2255_customer_when-the-fed-decides-that-inflation-is-t_3079754.png)

> [As I've often said, you can shop online and find whatever you're looking for, but bookstores are where you find what you…](https://sms4smile.com/quotes/paul-krugman/as-i-ve-often-said-you-can-shop-online-and-find-whatever-you-re/)

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

[Bookstores](https://sms4smile.com/quotes/about/bookstores/)

[Image](https://sms4smile.com/quotes/i/efe/paul-krugman-2255_bookstores_as-i-ve-often-said-you-can-shop-online-a_1608377.png)

> [Seven habits that help produce the anything-but-efficient markets that rule the world. 1. Think short term. 2. Be greedy. 3. Believe in…](https://sms4smile.com/quotes/paul-krugman/seven-habits-that-help-produce-the-anything-but-efficient-markets/)

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

[Believe](https://sms4smile.com/quotes/about/believe/)

[Image](https://sms4smile.com/quotes/i/4d1/paul-krugman-2255_believe_seven-habits-that-help-produce-the-anyth_2665761.jpg)

> [What Republicans have actually put on the table is almost nothing. All of the rest is just big talk. So how is…](https://sms4smile.com/quotes/paul-krugman/what-republicans-have-actually-put-on-the-table-is-almost-nothing-all/)

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

[Bigs](https://sms4smile.com/quotes/about/bigs/)

[Image](https://sms4smile.com/quotes/i/994/paul-krugman-2255_bigs_what-republicans-have-actually-put-on-th_309825.jpg)

> [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/)

[Education](https://sms4smile.com/quotes/about/education/)

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

> [Generous unemployment benefits can increase both structural and frictional unemployment. So government policies intended to help workers can have the undesirable side…](https://sms4smile.com/quotes/paul-krugman/generous-unemployment-benefits-can-increase-both-structural-and/)

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

[Benefits](https://sms4smile.com/quotes/about/benefits/)

[Image](https://sms4smile.com/quotes/i/dac/paul-krugman-2255_benefits_generous-unemployment-benefits-can-incre_269398.png)

> [Sometimes economists in official positions give bad advice; sometimes they give very, very bad advice; and sometimes they work at the OECD.](https://sms4smile.com/quotes/paul-krugman/sometimes-economists-in-official-positions-give-bad-advice-sometimes/)

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

[Advice](https://sms4smile.com/quotes/about/advice/)

[Image](https://sms4smile.com/quotes/i/8ce/paul-krugman-2255_advice_sometimes-economists-in-official-positio_2281236.jpg)

> [“open immigration can’t exist with a strong social safety net; if you’re going to assure healthcare and a decent income to everyone,…](https://sms4smile.com/quotes/paul-krugman/open-immigration-can-t-exist-with-a-strong-social-safety-net-if-you/)

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

[Immigration](https://sms4smile.com/quotes/about/immigration/)

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## Paul Krugman by topic

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                        "text": "I really think that people have to think safety; taking risks for higher yield is a bad idea once you're in late or latish middle age.",
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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": "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": "For decades the G.O.P. has won elections by appealing to social and racial divisions, only to turn after each victory to deregulation and tax cuts for the wealthy — a process that reached its epitome when George W. Bush won re-election by posing as America's defender against gay married terrorists, then announced that he had a mandate to privatize Social Security.",
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                        "text": "Yes, over the centuries economic progress has reduced some gross disparities - modern Americans are relatively unlikely to simply starve to death (though it can happen), so in that sense the gap between rich and poor has narrowed. But the question isn't whether society is, in some sense, more equal than it was in 1900. It's whether it is radically more unequal than it was in 1970. And of course it is.",
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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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