99+ Paul Krugman Quotes on Belief, Politics and Bias - Quotes.pub

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And I’m with Alan Greenspan, who – surprisingly, given his libertarian roots – has repeatedly warned that growing inequality poses a threat to “democratic society.” It may take some time before we muster the political will to counter that threat. But the first step toward doing something about inequality is to abandon the 80–20 fallacy. It’s time to face up to the fact that rising inequality is driven by the giant income gains of a tiny elite, not the modest gains of college graduates.

I think Stockman is an interesting sort of amalgam.

Republican candidates had to appeal to their base, which is by and large elderly white people arguing with empty chairs.

If it were profitable to have indentured servants in the modern world, I’m sure that Richard Scaife’s think tanks would have no trouble finding justifications, and assorted Christian groups would explain why it’s God’s will.

There’s nothing magic about spending on tanks and bombs rather than roads and bridges.

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.

Economics is not a morality play.

The trouble with poverty, as an issue, is that it has basically exhausted the patience of the general public.

If Europe’s example is any guide, here are the two secrets of coping with expensive oil: own fuel-efficient cars, and don’t drive them too much.

Some people want the past repeated and have an interest in making sure we don’t remember it.

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.

The French, unfortunately, actually believe what they say, and that has been very destructive.

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.

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.

Can we break the machine that is imposing right-wing radicalism on the United States? The scariest part is that the media is part of that machine.

But where will the Fed find another bubble?

Surely I’m not the only person to ask the obvious question: How different, really, is Mr. Madoff’s tale from the story of the investment industry as a whole?

Unsustainable situations usually go on longer than most economists think possible. But they always end, and when they do, it’s often painful.

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.

Outrageous fiscal mendacity is neither historically normal nor bipartisan. It’s a modern Republican thing.

But Wall Street people are in fact very smart; they’re funny, they’re not company men who work their way up the chain.

A message to progressives: By all means, hang Senator Joe Lieberman in effigy.

I admit it: I had fun watching right-wingers go wild as health reform finally became law.

Fun Quotes

Congress has always had a soft spot for “experts” who tell members what they want to hear, whether it’s supply-side economists declaring that tax cuts increase revenue or climate-change skeptics insisting that global warming is a myth.

There’s one thing that the Fed has been really good at cracking down on, and that’s inflation.

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

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.

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

In fact, I’d say that the sources of the economy’s expansion from 2003 to 2007 were, in order, the housing bubble, the war, and – very much in third place – tax cuts.

Tax cuts were not going to be effective at creating jobs, and the job creation record is lousy.

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.

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.

Democracy or breakdown in Syria would change the whole Middle East overnight.

I’m not sure that the current value of the NASDAQ is justified, but I’m not sure that it isn’t.

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.

The United States in particular and the West in general should be feeling a little embarrassed about all that lecturing we did to the Third World.

The science fiction world has a lot of people doing seriously imaginative thinking.

And when the chickens that didn’t hatch come home to roost, we will rue the day when, misled by sloppy accounting and rosy scenarios, we gave away the national nest egg.

The party of ideas has become the party of Beavis and Butthead.

Asset bubbles have happened even without not-so-easy money. And, in a depressed economy, where alternative uses of money are not great, people are going to bid up the prices of profitable corporations and stuff like that.

I don’t want a job in the administration; I think I’m more effective carping from the sidelines.

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.

Under the gold standard America had no major financial panics other than in 1873, 1884, 1890, 1893, 1907, 1930, 1931, 1932, and 1933.

And that’s just the beginning. More and more, conventional wisdom says that the responsible thing is to make the unemployed suffer. And while the benefits from inflicting pain are an illusion, the pain itself will be all too real.

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.

One way in which Americans have always been exceptional has been in our support for education. First we took the lead in universal primary education; then the ‘high school movement’ made us the first nation to embrace widespread secondary education.

Middle-class societies don’t emerge automatically as an economy matures, they have to be CREATED through political action.

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.

The public has no idea that the deficit has been falling like a stone.

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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