Politics determines who has the power, not who has the truth.
Paul KrugmanRead
Wealthy individuals bought themselves a radical right party, believing - correctly - that it would cut their taxes and remove regulations, but failed to realize that eventually the craziness would take on a life of its own, and that the monster they created would turn on its creators as well as the little people.
Interpretation
What this quote means
Wealthy individuals underestimated the consequences of their political choices, resulting in negative outcomes for themselves and society.
This quote by Paul Krugman reflects on the actions of wealthy individuals who supported a radical political party with the intention of benefiting their financial interests. However, they did not foresee that the extreme ideologies and actions of this party would ultimately lead to repercussions that would also affect them, highlighting the dangers of creating a political 'monster' that can spiral out of control.
Themes
WealthPoliticsConsequencesRadicalismTaxes
In practice
Example use cases
This quote can be used in discussions about economic policies to illustrate the unintended consequences of political choices.
More from Paul Krugman
All quotes →Our popular economics writers, however, are not in the business of giving their readers a ringside seat on the research action; with no exception I can think of, they use their books to do an end run around the normal structure of scholarship, to preach ideas that few serious economists share. Often, these ideas are not just at odds with the professional consensus; they are demonstrably wrong, and sometimes terminally silly. But they sound good to the unwary reader.
Paul KrugmanRead
The raw fact is that every successful example of economic development this past century ... has taken place via globalization.
Paul KrugmanRead
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 KrugmanRead
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.
Paul KrugmanRead
The economics profession went astray because economists, as a group, mistook beauty, clad in impressive-looking mathematics, for truth.
Paul KrugmanRead
Similar quotes
Part of the reason voter suppression works is we've created this culture that says you don't challenge the outcome of elections unless the act is so egregious as to be absolutely clear on its face.
Stacey AbramsRead
Let there be an end to the arrogance of the big powers who miss no opportunity to put the rights of the people in question. Africa's absence from the club of those who have the right to veto is unjust and should be ended.
Thomas SankaraRead
There are some militarists who say: ‘We are not interested in politics but only in the profession of arms.’ It is vital that these simple-minded militarists be made to realize the relationship that exists between politics and military affairs. Military action is a method used to attain a political goal. While military affairs and political affairs are not identical, it is impossible to isolate one from the other.
Mao ZedongRead
Government can't do anything for you except in proportion as it can do something to you.
William F. Buckley, Jr.Read
The new rule in American politics is that no one can make it to the White House without the Hispanic vote.
Jorge RamosRead
But as the arms-control scholar Thomas Schelling once noted, two things are very expensive in international life: promises when they succeed and threats when they fail.
Fareed ZakariaRead