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Paul Robin Krugman, né le 28 février 1953 à Long Island dans l'État de New York, est un économiste américain qui a obtenu le prix de la Banque de Suède en sciences économiques 2008 pour avoir montré « les effets des économies d'échelle sur les modèles du commerce international et la localisation de l'activité économique ». Il tient une tribune depuis 1999 dans le New York Times ce qui lui a permis de devenir un « faiseur d'opinion ». Wikipedia  

✵ 28. février 1953   •   Autres noms Paul Robin Krugman
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Paul Krugman: 106   citations 0   J'aime

Paul Krugman: Citations en anglais

“Where do ideas about economics come from? They come, of course from economists—where by an "economist" I mean someone who thinks and writes regularly about economic issues. But not all economists are alike, and in fact the genus includes two radically distinct species: The professors and the policy entrepreneurs.”

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Paul Krugman livre Peddling Prosperity

Introduction: Looking for Magicians
Peddling Prosperity (1994)

“If growth in East Asia is indeed running into diminishing returns, however, the conventional wisdom about an Asian-centered world economy needs some rethinking.”

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Pop Internationalism (1996), Asia's Miracle (1994)

“Holding people accountable for their past is O. K., but imposing a standard of purity, in which any compromise or misstep makes you the moral equivalent of the bad guys, isn’t. Abraham Lincoln didn’t meet that standard; neither did F. D. R. Nor, for that matter, has Bernie Sanders”

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Paul Krugman

think guns
Sanders Over The Edge http://www.nytimes.com/2016/04/08/opinion/sanders-over-the-edge.html (April 8, 2016)
The New York Times Columns

“Here, then, is a revised version of Marshall's rules: (1) Figure out what you think about an issue, working back and forth among verbal intuition, evidence, and as much math as you need. (2) Stay with it till you are done. (3) Publish the intuition, the math, and the evidence - all three - in an economics journal. (4) But also try to find a way of expressing the idea without the formal apparatus. (5) If you can, publish that where it can do the world some good.”

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"Two Cheers for Formalism", The Economic Journal, Vol. 108, No. 451 (Nov., 1998)

“The fact is that Democrats have already been pursuing policies that are much better for the white working class than anything the other party has to offer. Yet this has brought no political reward.”

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The New York Times Columns, The Populism Perplex (November 25, 2016)

“The serious lesson of the antics in Argentina, then, is that the big issues of monetary economics--fixed vs. flexible exchange rates, whether countries should have independent currencies at all--are still wide open. It's an eternal controversy, and not even the pope can resolve it.”

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"Don't Laugh at Me, Argentina", Slate (July 20, 1999)

“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.”

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When asked to define the economic policy of the Bush administration in a BuzzFlash interview http://www.buzzflash.com/interviews/03/09/11_krugman.html, 11 September 2003

“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. 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.”

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"Why aren't we all Keynesians yet?", Fortune (Aug. 3, 1998)

“It is a bit funny, but also quite sad: Those who preach the doctrine of global glut are tilting at windmills, when there are some real monsters out there that need slaying.”

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"Is Capitalism Too Productive?", Foreign Affairs (September/October 1997)

“As is often the case with major disputes in economics, the argument over fiscal policy went on for years, with some critics of fiscal policy still defending their position when this book went to press. It seems fair, however, to say that among economists a more or less Keynesian view of the effects of fiscal policy came to prevail. Careful statistical studies at the International Monetary Fund and else where showed that austerity policies have historically been followed by contraction, not expansion. Recent experience, in which countries like Spain and Greece that were forced into severe austerity also experienced severe slumps, seemed to confirm that observation. Furthermore, it was clear that those who had predicted a sharp rise in U. S. interest rates due to budget deficits, leading to conventional crowding out, had been wrong: U. S. long-term interest rates remained near record lows even during the years from 2009 to 2012, when the government ran very large deficits.”

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Source: Economics (4th ed., 2015), Chapter 33. Macroeconomics: Events and Ideas

“The kind of economic trouble that Asia experienced a decade ago, and that we're all experiencing now, is precisely the sort of thing we thought we had learned to prevent. In the bad old days big, advanced economies with stable governments-like Britain in the 1920s-might have had no answer to prolonged periods of stagnation and deflation; but between John Maynard Keynes and Milton Friedman, we thought we knew enough to keep that from happening again.”

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Introduction
The Return of Depression Economics and The Crisis of 2008 (2009)

“The usual and basic Keynesian answer to recessions is a monetary expansion. But Keynes worried that even this might sometimes not be enough, particularly if a recession had been allowed to get out of hand and become a true depression. Once the economy is deeply depressed, households and especially firms may be unwilling to increase spending no matter how much cash they have, they may simply add any monetary expansion to their board. Such a situation, in which monetary policy has become ineffective, has come to be known as a "liquidity trap"; Keynes believed that the British and American economies had entered such a trap by the mid-1930s, and some economists believed that the United States was on the edge of such a tap in 1992.
The Keynesian answer to a liquidity trap is for the government to do what the private sector will not: spend. When monetary expansion is ineffective, fiscal expansion—such as public works programs financed by borrowing—must take its place. Such a fiscal expansion can break the vicious circle of low spending and low incomes, "priming the pump: and getting the economy moving again. But remember that this is not by any means an all-purpose policy recommendation; it is essentially a strategy of desperation, a dangerous drug to be prescribed only when the usual over-the-counter remedy of monetary policy has failed.”

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Paul Krugman livre Peddling Prosperity

Source: Peddling Prosperity (1994), Ch. 1 : The Attack on Keynes

“Nobody can credibly promise to bring the old jobs back; what you can promise — and Mrs. Clinton did — are things like guaranteed health care and higher minimum wages. But working-class whites overwhelmingly voted for politicians who promise to destroy those gains.”

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The New York Times Columns, The Populism Perplex (November 25, 2016)

“If Keynes was Luther, Friedman was Ignatius of Loyola, founder of the Jesuits. And like the Jesuits, Friedman’s followers have acted as a sort of disciplined army of the faithful, spearheading a broad, but incomplete, rollback of Keynesian heresy. By the century’s end, classical economics had regained much though by no means all of its former dominion, and Friedman deserves much of the credit.”

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"Who Was Milton Friedman?", The New York Review of Books (February 15, 2007)
The New York Review of Books articles

“The Sanders campaign has brought out a lot of idealism and energy that the progressive movement needs. It has also, however, brought out a streak of petulant self-righteousness among some supporters. Has it brought out that streak in the candidate, too?”

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Sanders Over The Edge http://www.nytimes.com/2016/04/08/opinion/sanders-over-the-edge.html (April 8, 2016)
The New York Times Columns

“Consider John Kenneth Galbraith or Lester Thurow, both leading economists in the view of the general public, both with all the formal qualifications, both totally ignored by the academic mainstream. Or consider Robert Mundell, who is still revered for his contributions to international monetary theory, yet whose later incarnation as the father of supply-side economics has similarly been ignored.”

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Development, Geography, and Economic Theory (1995), Ch. 1. The Fall and Rise of Development Economics

“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.”

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Op-ed, "Franklin Delano Obama," New York Times, November 10, 2008 http://www.nytimes.com/2008/11/10/opinion/10krugman.html
The New York Times Columns

“Why doesn't policy-relevant work seem to conflict with my "real" research? I think that it's because I have been able to approach policy issues using almost exactly the same method that I use in my more basic work.”

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How I Work (1993)

“So the story of the baby-sitting co-op is not a mere amusement. If people would only take it seriously—if they could only understand that when great economic issues are at stake, whimsical parables are not a waste of time but the key to enlightenment—it is a story that could save the world.”

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"Baby-Sitting the Economy", Slate (Aug. 13, 1998)

“I know that when I look at today’s Mexicans and Central Americans, they seem to me fundamentally the same as my grandparents seeking a better life in America. On the other side, however, open immigration can’t coexist with a strong social safety net; if you’re going to assure health care and a decent income to everyone, you can’t make that offer global. So Democrats have mixed feelings about immigration; in fact, it’s an agonizing issue.”

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"The Curious Politics of Immigration" http://krugman.blogs.nytimes.com/2010/04/26/the-curious-politics-of-immigration/, 26 April 2010, The Conscience of a Liberal blog at The New York Times

“I do not think this is a permanent condition. The craziness comes more from cultural ethnic issues than anything else, because you have a… A lot of the real craziness come from, if you like, from rural White Americans who feel that they’re losing their country, they’re losing ownership of the country. And they are right — we are becoming more diverse, more multicultural. And in the end, they are they…they…they are not the future. In the end, the power they still have will go away. But it’s a very difficult time until then. So the future is Mayor Deblasio of New York, but Ted Cruz is still out there with the ability to do a lot of damage.”

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in Paul Krugman Interview https://www.youtube.com/watch?v=Z-8yFPTwhKs&feature=youtu.be&t=363 by Norwegian TV channel NRK (January 8, 2014)

“We will not achieve the understanding we need, however, unless we are willing to think clearly about our problems and to follow those thoughts wherever they lead. Some people say that our economic problems are structural, with no quick cure available; but I believe that the only important structural obstacles to world prosperity are the obsolete doctrines that clutter the minds of men.”

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Source: The Return of Depression Economics and The Crisis of 2008 (2009), Chapter 10. The Return of Depression Economics

“To be a progressive, then, means being a partisan—at least for now. The only way a progressive agenda can be enacted is if Democrats have both the presidency and a large enough majority in Congress to overcome Republican opposition. And achieving that kind of political preponderance will require leadership that makes opponents of the progressive agenda pay a political price for their obstructionism—leadership that, like FDR, welcomes the hatred of the interest groups trying to prevent us from making our society better.”

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Paul Krugman livre The Conscience of a Liberal

Source: The Conscience of a Liberal (2007), Ch. 13. The Conscience of a Liberal

“More than four years after the financial crisis began, the world's major advanced economies remain deeply depressed, in a scene all too reminiscent of the 1930s. And the reason is simple: we are relying on the same ideas that governed policy in the 1930s. These ideas, long since disproved, involve profound errors both about the causes of the crisis, its nature, and the appropriate response.These errors have taken deep root in public consciousness and provide the public support for the excessive austerity of current fiscal policies in many countries. So the time is ripe for a Manifesto in which mainstream economists offer the public a more evidence-based analysis of our problems.”

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Paul Krugman and Richard Layard, "A Manifesto for Economic Sense" (June 27, 2012)

“What’s odd about Friedman’s absolutism on the virtues of markets and the vices of government is that in his work as an economist’s economist he was actually a model of restraint. As I pointed out earlier, he made great contributions to economic theory by emphasizing the role of individual rationality—but unlike some of his colleagues, he knew where to stop. Why didn’t he exhibit the same restraint in his role as a public intellectual?
The answer, I suspect, is that he got caught up in an essentially political role. Milton Friedman the great economist could and did acknowledge ambiguity. But Milton Friedman the great champion of free markets was expected to preach the true faith, not give voice to doubts. And he ended up playing the role his followers expected. As a result, over time the refreshing iconoclasm of his early career hardened into a rigid defense of what had become the new orthodoxy.
In the long run, great men are remembered for their strengths, not their weaknesses, and Milton Friedman was a very great man indeed—a man of intellectual courage who was one of the most important economic thinkers of all time, and possibly the most brilliant communicator of economic ideas to the general public that ever lived. But there’s a good case for arguing that Friedmanism, in the end, went too far, both as a doctrine and in its practical applications. When Friedman was beginning his career as a public intellectual, the times were ripe for a counterreformation against Keynesianism and all that went with it. But what the world needs now, I’d argue, is a counter-counterreformation.”

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Paul Krugman

"Who Was Milton Friedman?", The New York Review of Books (February 15, 2007)
The New York Review of Books articles

“Keynes didn’t make an all-out assault on Economic Man, but he often resorted to plausible psychological theorizing rather than careful analysis of what a rational decision-maker would do. Business decisions were driven by “animal spirits,” consumer decisions by a psychological tendency to spend some but not all of any increase in income, wage settlements by a sense of fairness, and so on.
But was it really a good idea to diminish the role of Economic Man that much? No, said Friedman, who argued in his 1953 essay “The Methodology of Positive Economics” that economic theories should be judged not by their psychological realism but by their ability to predict behavior. And Friedman’s two greatest triumphs as an economic theorist came from applying the hypothesis of rational behavior to questions other economists had thought beyond its reach.”

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Paul Krugman

"Who Was Milton Friedman?", The New York Review of Books (February 15, 2007)
The New York Review of Books articles

“Keynesian theory initially prevailed because it did a far better job than classical orthodoxy of making sense of the world around us, and Friedman’s critique of Keynes became so influential largely because he correctly identified Keynesianism’s weak points. And just to be clear: although this essay argues that Friedman was wrong on some issues, and sometimes seemed less than honest with his readers, I regard him as a great economist and a great man.”

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"Who Was Milton Friedman?", The New York Review of Books (February 15, 2007)
The New York Review of Books articles

“It's tempting to give up—either to retreat to the ivory tower, or to start to play the policy entrepreneur game. After all, what is the use of sophisticated policy thinking or careful examination of the facts if simplistic ideas win every time?
One answer is simply that it would be wrong to give up. If the people with good ideas do not fight for them, they have no right to complain about the outcome.
But good ideas will still often lose to convenient nonsense. When that happens, every serious economist is ultimately sustained by a faith that the right ideas will eventually prevail.”

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Paul Krugman livre Peddling Prosperity

Epilogue
Peddling Prosperity (1994)

“So let’s bid a not at all fond farewell to the Big Zero — the decade in which we achieved nothing and learned nothing.”

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"The Big Zero", The New York Times (27th December, 2009)

“This article makes three points. First, it argues that concerns about competitiveness are, as an empirical matter, almost completely unfounded. Second, it tries to explain why defining the economic problem as one of international competition is nonetheless so attractive to so many people. Finally, it argues that the obsession with competitiveness is not only wrong but dangerous, skewing domestic policies and threatening the international economic system.”

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Pop Internationalism (1996), Competitiveness: A Dangerous Obsession (1994)

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