Quotessence
Home / Quotes / Quote by Paul Krugman

Quote by Paul Krugman

“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.”

Quote by Paul Krugman

Author

Paul Krugman
Paul Krugman

Paul Krugman is a renowned economist known for his contributions to macroeconomic policy and international trade. He won the Nobel Prize in Economics in 1991 and is considered one of the leading figures in the New Keynesian economics school. more

You May Also Like

“A favorite Wired icon for the information feedback loop, a dragon curling in a circle to swallow its own tail, could become more apt as a symbol of the timeless libertarian paradox: Monopoly verging on feudalism emerges from unregulated competition to bite libertarianism in the posterior.”

“I hear Republicans and Libertarians and so forth talking about property rights, but they stop talking about property rights as soon as the subject of American Indians comes up, because they know fully well, perhaps not in a fully articulated, conscious form, but they know fully well that the basis for the very system of endeavor and enterprise and profitability to which they are committed and devoted accrues on the basis of theft of the resources of someone else. They are in possession of stolen property. They know it. They all know it. It's a dishonest endeavor from day one.”

“The organizer of industry who thinks he has 'made' himself and his business has found a whole social system ready to his hand in skilled workers, machinery, a market, peace and order - a vast apparatus and a pervasive atmosphere, the joint creation of millions of men and scores of generations. Take away the whole social factor, and we have not Robinson Crusoe with his salvage from the wreck and his acquired knowledge, but the native savage living on roots, berries and vermin.”

“But, that’s the whole point of corporatization - to try to remove the public from making decisions over their own fate, to limit the public arena, to control opinion, to make sure that the fundamental decisions that determine how the world is going to be run - which includes production, commerce, distribution, thought, social policy, foreign policy, everything - are not in the hands of the public, but rather in the hands of highly concentrated private power. In effect, tyranny unaccountable to the public.”

“Marriage vows in an objectivist church would probably run along the lines of "Do you promise to attempt to dominate and subdue this woman until such time as you grow bored?" "Maybe." "Close enough. And do you promise to applaud this man`s production until such time as you find someone with a bigger ... corporation?" "Whatever." "By the power vested in me by having scammed you guys out of a marriage license fee, I now pronounce you man and appendage. May you be unencumbered by small persons."”