If you want a simple model for predicting the unemployment rate in the United States over the next few years, here it is: It will be what Greenspan wants it to be, plus or minus a random error reflecting the fact that he is not quite God.
The economics profession went astray because economists, as a group, mistook beauty, clad in impressive-looking mathematics, for truth. - Paul Krugman
The economics profession went astray because economists, as a group, mistook beauty, clad in impressive-looking mathematics, for truth.
- Paul Krugman
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 dema… - Paul Krugman
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 dema…
Debt is one person's liability, but another person's asset. - Paul Krugman
Debt is one person's liability, but another person's asset.
Middle-class societies don't emerge automatically as an economy matures, they have to be CREATED through political action. - Paul Krugman
Middle-class societies don't emerge automatically as an economy matures, they have to be CREATED through political action.
The important thing to understand is that the case for pollution control isn't based on some kind of aesthetic distaste for industrial society. Pollu… - Paul Krugman
The important thing to understand is that the case for pollution control isn't based on some kind of aesthetic distaste for industrial society. Pollu…
Rising inequality isn’t about who has the knowledge; it’s about who has the power. - Paul Krugman
Rising inequality isn’t about who has the knowledge; it’s about who has the power.
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. - Paul Krugman
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.
Seven habits that help produce the anything-but-efficient markets that rule the world. 1. Think short term. 2. Be greedy. 3. Believe in the gre… - Paul Krugman
Seven habits that help produce the anything-but-efficient markets that rule the world. 1. Think short term. 2. Be greedy. 3. Believe in the gre…
In our country, learned ignorance is on the rise. - Paul Krugman
In our country, learned ignorance is on the rise.
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