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
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.
There's not a hint in his work of support for the right-wing supply-side doctrine.
For most Americans, economic growth is a spectator sport.
Those tax cuts, rather than the spending binge, are the primary cause of the (federal) deficit.
It’s not about the budget; it’s about the power...So will the attack on unions succeed? I don’t know. But anyone who cares about retaining government of the people by the people should hope that it doesn’t.
Middle-class societies don't emerge automatically as an economy matures, they have to be CREATED through political action.
Wealthy Americans who benefit hugely from a system rigged in their favor react with hysteria to anyone who points out just how rigged the system is.
Europe is often held up as a cautionary tale, a demonstration that if you try to make the economy less brutal, to take better care of your fellow citizens when they're down on their luck, you end up killing economic progress. But what European experience actually demonstrates is the opposite: social justice and progress can go hand in hand.
What saved the economy, and the New Deal was the enormous public-works project known as World War II, which finally provided a fiscal stimulus adequate to the economy's needs.
If you want to understand opposition to climate action, follow the money.
There is no economic policy. That's really important to say. The general modus operandi of the Bushies is that they don't make policies to deal with problems. They use problems to justify things they wanted to do anyway. So there is no policy to deal with the lack of jobs. There really isn't even a policy to deal with terrorism. It's all about how can we spin what's happening out there to do what we want to do.
The growth of the Internet will slow drastically, as the flaw in 'Metcalfe's law'–which states that the number of potential connections in a network is proportional to the square of the number of participants–becomes apparent: most people have nothing to say to each other! By 2005 or so, it will become clear that the Internet's impact on the economy has been no greater than the fax machine's.
So what are the effects of increasing minimum wages? Any Econ 101 student can tell you the answer: The higher wage reduces the quantity of labor demanded, and hence leads to unemployment.
Outrageous fiscal mendacity is neither historically normal nor bipartisan. It's a modern Republican thing.