Paul Krugman: Trending quotes

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Paul Krugman: 212 quotes1 like

“With great wealth comes great pettiness.”

Warren Versus the Petty Plutocrats https://www.nytimes.com/2019/09/30/opinion/elizabeth-warren-wealth-tax.html (September 30, 2019) <br class="br">The New York Times Columns

“Now I’m not saying that Keynes was right about everything, that we should treat The General Theory as a sort of secular bible - the way that Marxists treat Das Kapital.”

Paul Krugman

But the essential truth of Keynes’s big idea - that even the most productive economy can fail if consumers and investors spend too little, that the pursuit of sound money and balanced budgets is sometimes (not always!) folly rather than wisdom - is as evident in today’s world as it was in the 1930s. And in these dangerous days, we ignore or reject that idea at the world economy’s peril.
"Why aren't we all Keynesians yet?", Fortune (Aug. 3, 1998)

“The problem is that there is no alternative to models. We all think in simplified models, all the time. The sophisticated thing to do is not to pretend to stop, but to be self-conscious — to be aware that your models are maps rather than reality.”

Paul Krugman

Source: Development, Geography, and Economic Theory (1995), Ch. 3. Models and Metaphors

“Homo economicus is an implausible caricature, but a highly productive one, and no useful alternative has yet been found.”

Paul Krugman

Source: Development, Geography, and Economic Theory (1995), Ch. 3. Models and Metaphors

“By 1980, the work of Feldstein, Boskin, Summers, and others had convinced many economists that U.S. taxes were in fact a significant obstacle to investment. Nor was this all: another major U.S. policy, the Social Security system, was also discouraging saving and investment.”

Paul Krugman book Peddling Prosperity

Source: Peddling Prosperity (1994), Ch. 2 : Taxes, Regulation, and Growth

“The way to deal with China would have been a broad coalition of countries that play by the rules. Instead, we've conveyed the message that big countries don't need no rules. And China is a very big country.”

Paul Krugman

comment on Trump Is Abusing His Tariff Power, Too https://www.nytimes.com/2020/01/23/opinion/trump-auto-tariff.html#commentsContainer (January 23, 2020) <br class="br">The New York Times Columns