“Most people, I suspect, still have in their minds an image of America as the great land of college education, unique in the extent to which higher learning is offered to the population at large. That image used to correspond to reality. But these days young Americans are considerably less likely than young people in many other countries to graduate from college. In fact, we have a college graduation rate that's slightly below the average across all advanced economies.” PeopleMindStillsCountryFactsRealityAmericaYoungUsedEconomyLandCollegeHigherUniqueRateAveragePopulationThese DaysSuspectsGraduatesOther CountriesCollege EducationCollege GraduationHigher Learning Author:Paul Krugman
“The raw fact is that every successful example of economic development this past century every case of a poor nation that worked its way up to a more or less decent, or at least dramatically better, standard of living has taken place via globalization, that is, by producing for the world market rather than trying for self-sufficiency.” WorldWayTryingSelfFactsPastNationsPoorCasesSuccessfulTakenEconomicCenturyExampleDevelopmentStandardsDecentGlobalizationStandards Of LivingEconomic DevelopmentSelf SufficiencySufficiencyEconomic GlobalizationPoor Nations Author:Paul Krugman
“We're living in a Dark Age of macroeconomics. Remember, what defined the Dark Ages wasn’t the fact that they were primitive — the Bronze Age was primitive, too. What made the Dark Ages dark was the fact that so much knowledge had been lost, that so much known to the Greeks and Romans had been forgotten by the barbarian kingdoms that followed.” MadeFactsAgeRememberLostDarkKnownForgottenKingdomsDefinedGreekPrimitiveDark AgesBarbariansBronzeMacroeconomics Author:Paul Krugman
“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.” IfsKnowsLooksFactsFeelingsSeemsCareTodayAmericaStrongSocialSidesIssuesOffersSafetyDemocratSeekingImmigrationIncomeHealth CareDecentGrandparentBetter LifeCoexistSafety NetAgonizingMixed Feelings Author:Paul Krugman
“By rescuing the financial system without reforming it, Washington has done nothing to protect us from a new crisis, and, in fact, has made another crisis more likely.” MadeDoneFactsProtectCrisisFinancialFinancial System Author:Paul Krugman
“The fact is that the two years or so after 9/11 were a terrible time in America – a time of political exploitation and intimidation, culminating in the deliberate misleading of the nation into the invasion of Iraq. It’s probably worth pointing out that I’m not saying anything now that I wasn’t saying in real time back then, when Bush had a sky-high approval rating and any criticism was denounced as treason. And there’s nothing I’ve done in my life of which I’m more proud.” YearsTwoRealDoneFactsAmericaPoliticalNationsSkyProudTerribleCriticismIraqTwo YearsApprovalExploitationPointingDeliberateInvasionMisleadRatingTreasonIntimidationTerrible TimesApproval RatingSky High Author:Paul Krugman
“The raw fact is that every successful example of economic development this past century ... has taken place via globalization.” FactsPastBusinessSuccessfulTakenEconomicCenturyExampleDevelopmentGlobalizationEconomic DevelopmentSelf SufficiencyEconomic Globalization Author:Paul Krugman
“However, the fact that an economist offers a theoretical analysis does not and should not automatically command respect. What is needed is some assurance that the analysis is actually relevant.” ShouldDoeFactsNeededOffersEconomicsCommandAnalysisRelevantEconomistAssuranceTheoretical Author:Paul Krugman
“I've always believed that a speculative bubble need not lead to a recession, as long as interest rates are cut quickly enough to stimulate alternative investments. But I had to face the fact that speculative bubbles usually are followed by recessions. My excuse has been that this was because the policy makers moved too slowly - that central banks were typically too slow to cut interest rates in the face of a burst bubble, giving the downturn time to build up a lot of momentum.” NeedsGivingLongHas BeensEnoughPhilosophyFactsFacesPoliticalInterestCuttingPolicyEconomicsMovedInvestmentRateExcuseAlternativesMakersBubblesAlways BelieveMomentumRecessionsInterest RateCentral BanksPolicy MakersDownturn Author:Paul Krugman
“In fact, I'd say that the sources of the economy's expansion from 2003 to 2007 were, in order, the housing bubble, the war, and - very much in third place - tax cuts.” WarPhilosophyFactsPoliticalOrderEconomyCuttingSourceTaxesEconomicsThirdsBubblesExpansionHousingTax CutsThird PlaceHousing Bubble Author:Paul Krugman
“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.” IfsWantYearsStatesFactsNextSimpleUnitedUnited StatesModelsErrorsRatePlusUnemploymentReflectingMinusPredictingUnemployment Rate Book:The Accidental Theorist: And Other Dispatches from the Dismal Science Source: The Accidental Theorist: And Other Dispatches from the Dismal Science
“But Wall Street people are in fact very smart; they're funny, they're not company men who work their way up the chain.” PeopleMenWayFactsCompanyStreetsWallSmartChainsVery Smart Author:Paul Krugman
