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Paul Krugman Biography

Paul Robin Krugman (/ˈkrʊɡmən/ ( listen) KRUUG-mən; born February 28, 1953) is an American economist who is currently Distinguished Professor of Economics at the Graduate Center of the City University of New York, and a 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 scale and of consumer preferences for diverse goods and services.

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Paul Krugman Quotes

Wealthy individuals bought themselves a radical right party, believing - correctly - that it would cut their taxes and remove regulations, but failed to realize that eventually the craziness would take on a life of its own, and that the monster they created would turn on its creators as well as the little people.

Believe, Correctly, Craziness, Creators, Cutting, Party

I think if you're a liberal, you believe that we all are, at least to some extent, our brothers' keepers, you really believe that we have a sumptuary responsibility to make sure that life is decent for everybody in America, that you believe that society out to be broadly shared, and you believe that you can't have a real democracy unless you have a little bit, at least, of economic democracy.

Brother, Real, Believe, Extent, Everybody

What our economy needs is direct job creation by the government and mortgage-debt relief for stressed consumers. What it very much does not need is a transfer of billions of dollars to corporations that have no intention of hiring anyone except more lobbyists.

Creation, Direct, Dollars, Government, Jobs, Stressed

Are you, or is someone you know, a gadget freak? If so, you doubtless know that Wednesday was iPhone 5 day, the day Apple unveiled its latest way for people to avoid actually speaking to or even looking at whoever they're with.

Funny, Gadget, Iphone, Latest, People, Technology

The Obama campaign seems dangerously close to becoming a cult of personality.

Becoming, Campaigns, Cult, Cult Of Personality, Dangerously, Obama

I think Stockman is an interesting sort of amalgam.

Amalgam, Interesting, Stockman, Think, Thinking

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.

Cuts, Cutting, Organization, Philosophy, Positive, President

The planet will continue to cook.

Continue, Cook, Cooks, Global Warming, Planet, Planets

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.

Bernie, Happened, Hero, Memories, Unifying, War

Economics is not a morality play.

Economics, Morality, Play

By rescuing the financial system without reforming it, Washington has done nothing to protect us from a new crisis, and, in fact, has made another crisis more likely.

Crisis, Done, Facts, Financial, Reforming, System

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.

Man, Men, Rich, Walk, Wreckage, Years

I believe that the only important structural obstacles to world prosperity are the obsolete doctrines that clutter the minds of men.

Believe, Men, Mind, Minds, Clutter

When depression economics prevails, the usual rules of economic policy no longer apply: virtue becomes vice, caution is risky and prudence is folly.

Becomes, Longer, Usual, Vices, Virtue

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

Debt, People, Real, Time

[I]f you look at United States history since World War II, you find that of the 10 presidents who preceded Barack Obama, seven left office with a debt ratio lower than when they came in. Who were the three exceptions? Ronald Reagan and the two George Bushes.

History, Obama, Office, Two, War

In our country, learned ignorance is on the rise.

Country, Ignorance, Our Country, Rise

It's a funny thing, by the way, how people who love free markets are also quite sure that they know that investors are being irrational.

Funny Things, People, Way, Funny, Thing

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.

Effect, Government, Philosophy, Political, Undesirable, Unemployment

Whenever you see some business person quoted complaining about how he or she can't find workers with the necessary skills, ask what wage they're offering. Almost always it turns out what said business person really wants is highly (and expensively) educated workers at a manual-labor wage. No wonder they come up short.

Complaining, Educated, Offering, Skills, Whenever, Wonder

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