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Paul Krugman Quotes

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 Picture Quote #1

Debt is one person’s liability, but another person’s asset Picture Quote #1

If you want to understand opposition to climate action, follow the money Picture Quote #1

Economists don’t usually make good speculators, because they think too much Picture Quote #1

The planet will continue to cook Picture Quote #1

The habit of disguising ideology as expertise has created a deficit of legitimacy Picture Quote #1

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The science fiction world has a lot of people doing seriously imaginative thinking Picture Quote #1

Bad ideas flourish because they are in the interest of powerful groups Picture Quote #1

The public has no idea that the deficit has been falling like a stone Picture Quote #1

Politics determines who has the power, not who has the truth Picture Quote #1

In our country, learned ignorance is on the rise Picture Quote #1

People respond to incentives. If unemployment becomes more attractive because of the unemployment benefit, some unemployed workers may no longer try to find a job or may not try to find one as quickly as they would without the benefit Picture Quote #1

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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 Picture Quote #1

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 Picture Quote #1

Every once in a while I feel despair over the fate of the planet. If you’ve been following climate science, you know what I mean: the sense that we’re hurtling toward catastrophe but nobody wants to hear about it or do anything to avert it Picture Quote #1

The trouble with poverty, as an issue, is that it has basically exhausted the patience of the general public Picture Quote #1

The raw fact is that every successful example of economic development this past century... has taken place via globalization Picture Quote #1

Political figures who talk a lot about liberty and freedom invariably turn out to mean the freedom to not pay taxes and discriminate based on race; freedom to hold different ideas and express them, not so much Picture Quote #1

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We know that advanced economies with stable governments that borrow in their own currency are capable of running up very high levels of debt without crisis Picture Quote #1

The real danger with debt is what happens if lots of people decide, or are forced, to pay it off at the same time Picture Quote #1

The problem isn’t that people don’t understand how good things are. It’s that they know, from personal experience, that things really aren’t that good Picture Quote #1

I think so long as fossil fuels are cheap, people will use them and it will postpone a movement towards new technologies Picture Quote #1

I have friends, political scientists, sociologists, who all share an interest at least in certain kinds of science fiction Picture Quote #1

I don’t think I’ve had any great success in predicting politics or social change, nor have I really tried Picture Quote #1

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Generous unemployment benefits can increase both structural and frictional unemployment. So government policies intended to help workers can have the undesirable side effect of raising the natural rate of unemployment Picture Quote #1

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 Picture Quote #1

It should be possible to emphasize to students that the level of employment is a macroeconomic issue, depending in the short run on aggregate demand and depending in the long run on the natural rate of unemployment, with microeconomic policies like tariffs having little net effect. Trade policy should be debated in terms of its impact on efficiency, not in terms of phoney numbers about jobs created or lost Picture Quote #1

The goal in the end is not to win elections. The goal is to change society Picture Quote #1

Our popular economics writers, however, are not in the business of giving their readers a ringside seat on the research action; with no exception I can think of, they use their books to do an end run around the normal structure of scholarship, to preach ideas that few serious economists share. Often, these ideas are not just at odds with the professional consensus; they are demonstrably wrong, and sometimes terminally silly. But they sound good to the unwary reader Picture Quote #1

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 Picture Quote #1

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Text Quotes

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 Quotes) Debt is one person’s liability, but another person’s asset (Paul Krugman Quotes) If you want to understand opposition to climate action, follow the money (Paul Krugman Quotes) Economists don’t usually make good speculators, because they think too much (Paul Krugman Quotes) The planet will continue to cook (Paul Krugman Quotes) The habit of disguising ideology as expertise has created a deficit of legitimacy (Paul Krugman Quotes) The science fiction world has a lot of people doing seriously imaginative thinking (Paul Krugman Quotes) Bad ideas flourish because they are in the interest of powerful groups (Paul Krugman Quotes) The public has no idea that the deficit has been falling like a stone (Paul Krugman Quotes) Politics determines who has the power, not who has the truth (Paul Krugman Quotes) In our country, learned ignorance is on the rise (Paul Krugman Quotes) People respond to incentives. If unemployment becomes more attractive because of the unemployment benefit, some unemployed workers may no longer try to find a job or may not try to find one as quickly as they would without the benefit (Paul Krugman Quotes) 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 Quotes) 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 Quotes) Every once in a while I feel despair over the fate of the planet. If you’ve been following climate science, you know what I mean: the sense that we’re hurtling toward catastrophe but nobody wants to hear about it or do anything to avert it (Paul Krugman Quotes) The trouble with poverty, as an issue, is that it has basically exhausted the patience of the general public (Paul Krugman Quotes) The raw fact is that every successful example of economic development this past century... has taken place via globalization (Paul Krugman Quotes) Political figures who talk a lot about liberty and freedom invariably turn out to mean the freedom to not pay taxes and discriminate based on race; freedom to hold different ideas and express them, not so much (Paul Krugman Quotes) We know that advanced economies with stable governments that borrow in their own currency are capable of running up very high levels of debt without crisis (Paul Krugman Quotes) 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 Quotes) The problem isn’t that people don’t understand how good things are. It’s that they know, from personal experience, that things really aren’t that good (Paul Krugman Quotes) I think so long as fossil fuels are cheap, people will use them and it will postpone a movement towards new technologies (Paul Krugman Quotes) I have friends, political scientists, sociologists, who all share an interest at least in certain kinds of science fiction (Paul Krugman Quotes) I don’t think I’ve had any great success in predicting politics or social change, nor have I really tried (Paul Krugman Quotes) Generous unemployment benefits can increase both structural and frictional unemployment. So government policies intended to help workers can have the undesirable side effect of raising the natural rate of unemployment (Paul Krugman Quotes) 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 Quotes) It should be possible to emphasize to students that the level of employment is a macroeconomic issue, depending in the short run on aggregate demand and depending in the long run on the natural rate of unemployment, with microeconomic policies like tariffs having little net effect. Trade policy should be debated in terms of its impact on efficiency, not in terms of phoney numbers about jobs created or lost (Paul Krugman Quotes) The goal in the end is not to win elections. The goal is to change society (Paul Krugman Quotes) Our popular economics writers, however, are not in the business of giving their readers a ringside seat on the research action; with no exception I can think of, they use their books to do an end run around the normal structure of scholarship, to preach ideas that few serious economists share. Often, these ideas are not just at odds with the professional consensus; they are demonstrably wrong, and sometimes terminally silly. But they sound good to the unwary reader (Paul Krugman Quotes) 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 Quotes)

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