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
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.
Anyone who thinks that the last 80 years, ever since FDR took us off gold, have been a doomed venture, that strikes me as kind of cranky.
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.
A snarky but accurate description of monetary policy over the past five years is that the Federal Reserve successfully replaced the technology bubble with a housing bubble
Some years down the pike, we're going to get the real solution, which is going to be a combination of death panels and sales taxes. It's going to be that we're actually going to take Medicare under control, and we're going to have to get some additional revenue, probably from a VAT. But it's not going to happen now.
I predict that in the years ahead Enron, not Sept. 11, will come to be seen as the greater turning point in U.S. society.
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.
Most work in macroeconomics in the past 30 years has been useless at best and harmful at worst.
If you can create even the illusion of high profitability for a few years, then when the thing collapses you can walk out of the wreckage a very rich man.
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.
When they eliminated the bond, it was already obvious that the prospect of paying off the debt was evaporating before our eyes.