Paul Krugman
Paul Krugman
Paul Robin Krugman is an American economist, Distinguished Professor of Economics at the Graduate Center of the City University of New York, and an op-ed columnist for The New York Times. In 2008, Krugman was awarded the Nobel Memorial Prize in Economic Sciences for his contributions to New Trade Theory and New Economic Geography. The Prize Committee cited Krugman's work explaining the patterns of international trade and the geographic distribution of economic activity, by examining the effects of economies of...
NationalityAmerican
ProfessionJournalist
Date of Birth28 February 1953
CityAlbany, NY
CountryUnited States of America
[W]e have a lot of evidence on what happens when you raise the minimum wage. And the evidence is overwhelmingly positive: Hiking the minimum wage has little or no adverse effect on employment while significantly increasing workers' earnings.
I have friends, political scientists, sociologists, who all share an interest at least in certain kinds of science fiction.
On the political as on the economic front it's important not to fall into the "not as bad as" trap. High unemployment isn't O.K. just because it hasn't hit 1933 levels; ominous political trends shouldn’t be dismissed just because there’s no Hitler in sight.
Politics determines who has the power, not who has the truth.
I believe in a relatively equal society, supported by institutions that limit extremes of wealth and poverty. I believe in democracy, civil liberties, and the rule of law. That makes me a liberal, and I’m proud of it.
The goal in the end is not to win elections. The goal is to change society.
Middle-class societies don't emerge automatically as an economy matures, they have to be CREATED through political action.
There's not a hint in his work of support for the right-wing supply-side doctrine.
But the vitriol also reflects the fact that many of the people at the Republican National Convention, for all their flag-waving, hate America. They want a controlled, monolithic society; they fear and loathe our nation's freedom, diversity and complexity.
Those tax cuts, rather than the spending binge, are the primary cause of the (federal) deficit.
Debt is one person's liability, but another person's asset.
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.
When they eliminated the bond, it was already obvious that the prospect of paying off the debt was evaporating before our eyes.
When the Fed decides that inflation is too high, they have the tools, and they've shown historically that they have the will, to bring it down. And, it might be painful.