“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.”

— Paul Krugman

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

Adopted from Wikiquote. Last update June 3, 2021. History

Help us to complete the source, original and additional information

Do you have more details about the quote "What saved the economy, and the New Deal was the enormous public-works project known as World War II, which finally pro…" by Paul Krugman?

Paul Krugman 106

American economist 1953

Related quotes

“So the world needs other engines to carry the growth process. And in a slow down environment in the world, an economy which can grow at 8-9% like India certainly has viable shoulders to provide the support to the global economy”

Arun Jaitley (1952–2019) Indian politician

On the 2015 Chinese stock market crash, as quoted in " India - we can take the economic lead as China stumbles http://www.bbc.com/news/business-34063295", BBC News (27 August 2015)

“Outside the EU, we will be able to sign new trade deals with other countries and open up new markets in the fastest-growing economies around the world.”

Theresa May (1956) Prime Minister of the United Kingdom

Reality Check: Theresa May's Brexit letter https://www.bbc.co.uk/news/uk-politics-46344443 BBC News (26 November 2018)
2010s, On Brexit

“Economy is a distributive virtue, and consists not in saving but selection. Parsimony requires no providence, no sagacity, no powers of combination, no comparison, no judgment.”

Edmund Burke A Letter to a Noble Lord

A Letter to a Noble Lord (1796)

“Keynesian economics — the go - to theory for those who like government at the controls of the economy — is in the forefront of the ongoing debate on fiscal - stimulus packages. For example, in true Keynesian spirit, Agriculture Secretary Tom Vilsack said recently that food stamps were an "economic stimulus" and that "every dollar of benefits generates $1.84 in the economy in terms of economic activity." Many observers may see how this idea—that one can magically get back more than one puts in — conflicts with what I will call "regular economics."”

Robert Barro (1944) American classical macroeconomist

What few know is that there is no meaningful theoretical or empirical support for the Keynesian position.
Robert J. Barro, "Keynesian Economics vs. Regular Economics" Wall Street Journal (2011).

“There are different views about what's good for our country, our economy, and our leadership in the world. And I think it's important to look at what we need to do to get the economy going again.”

Hillary Clinton (1947) American politician, senator, Secretary of State, First Lady

Presidential campaign (April 12, 2015 – 2016), First presidential debate (September 26, 2016)

“The dynamic of our society, and particularly our new economy, will increasingly obey the logic of networks. Understanding how networks work will be the key to understanding how the economy works.”

Kevin Kelly (1952) American author and editor

Out of Control: The New Biology of Machines, Social Systems and the Economic World (1995), New Rules for the New Economy: 10 Radical Strategies for a Connected World (1999)

“It would be more realistic to think of all economic enterprise as a public service. Thought of in this perspective, a private economy is a contradiction in terms. Every economy is a public or social (not socialist) economy.”

Robert A. Dahl (1915–2014) American political scientist

After the Revolution? (1970; 1990), Ch. 4 : From Principles to Problems

“The present estimated margin between public receipts and expenditures for this fiscal year is very small. Perhaps the most important work that this session of the Congress can do is to continue a policy of economy and further reduce the cost of government, in order that we may have a reduction of taxes for the next fiscal year. Nothing is more likely to produce that public confidence which is the forerunner and the mainstay of prosperity, encourage and enlarge business opportunity with ample opportunity for employment at good wages, provide a larger market for agricultural products, and put our country in a stronger position to be able to meet the world competition in trade, than a continuing policy of economy. Of course necessary costs must be met, proper functions of the Government performed, and constant investments for capital account and reproductive effort must be carried on by our various departments. But the people must know that their Government is placing upon them no unnecessary burden.”

Calvin Coolidge (1872–1933) American politician, 30th president of the United States (in office from 1923 to 1929)

1920s, Second State of the Union Address (1924)

“Public economy is part of public virtue.”

William Ewart Gladstone (1809–1898) British Liberal politician and prime minister of the United Kingdom

Letter to Welby (26 October 1887), quoted in Anthony Howe, Free Trade and Liberal England 1846–1946 (1997), p. 19
1880s

“Today, local economies are being destroyed by the "pluralistic," displaced, global economy, which has no respect for what works in a locality. The global economy is built on the principle that one place can be exploited, even destroyed, for the sake of another place.”

Wendell Berry (1934) author

Interview in New Perspectives Quarterly (1992), quoted in his Profile at The Poetry Foundation http://www.poetryfoundation.org/archive/poet.html?id=540

“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.”

Help us to complete the source, original and additional information

Paul Krugman 106

Related quotes

Related topics