Paul Krugman

(Paul Robin Krugman)

Paul Krugman
Paul Krugman
  • Born: February 28, 1953
  • Nationality: American
  • Profession: Economist









Paul Robin Krugman is an American economist who is currently Distinguished Professor of Economics at the Graduate Center of the City University of New York, and a columnist for The New York Times. In 2008, Krugman was awarded the Nobel Memorial Prize in Economic Sciences for his contributions to New Trade Theory and New Economic Geography. The Prize Committee cited Krugman's work explaining the patterns of international trade and the geographic distribution of economic activity, by examining the effects of economies of scale and of consumer preferences for diverse goods and services.

Quotes About
Author Quote
Quote Topics Cited
… immigration reduces the wages of domestic workers who compete with immigrants. That’s just supply and demand: we’re talking about large increases in the number of low-skill workers relative to other inputs into production, so it’s inevitable that this means a fall in wages. Immigration & Emigration ;Foreign Policy, World & International Affairs
… many, and arguably most economists were claiming right up to the moment of collapse, that nothing like this could ever happen. Economics, The Economy & Fiscal Affairs
A person should not have a second class life because he chose the wrong parents. Families, Children & Parenting
A trade war is a conflict in which each side uses most of its ammunition to shoot itself in the foot. Foreign Trade
As soon as the word “guns” enters any political discussion, all rationality goes out the window. Guns & Gun Control
As the rate of technological change in computing slows, the number of jobs for IT specialists will decelerate, then actually turn down; ten years from now, the phrase information economy will sound silly. Economics, The Economy & Fiscal Affairs ;Science, Mathematics, Engineering & Technology
By 2005, it will become clear that the Internet’s impact on the economy has been no greater than the fax machine’s. Economics, The Economy & Fiscal Affairs ;Science, Mathematics, Engineering & Technology
Many of the worst off, native-born Americans are hurt by immigration—especially immigration from Mexico. Because Mexican immigrants have much less education than the average U. S. worker, they increase the supply of less-skilled labor, driving down the wages of the worst-skilled Americans.. Immigration & Emigration
Never before in the history of civilization has there been a tax cut in time of war. Taxes
One way in which Americans have always been exceptional has been in our support for education. First we took the lead in universal primary education; then the ‘high school movement’ made us the first nation to embrace widespread secondary education Education, Learning, Knowledge & Training
Overpaid bankers taking big risks with other people’s money brought the world to its knees.. Compliments, Insults & Rebukes
Politics determine who has the power, not who has the truth. Power
The fiscal burden of low-wage immigrants is also pretty clear. … I think that you’d be hard pressed to find any set of assumptions under which Mexican immigrants are a net fiscal plus, but equally hard pressed to make the burden more than a fraction of a percent of G.D.P. Immigration & Emigration ;Foreign Policy, World & International Affairs
The goal in the end is not to win elections. The goal is to change society. Reform, Change, Transformation & Reformers
The growth of the Internet will slow drastically, as the flaw in ‘Metcalfe’s law' becomes apparent: most people have nothing to say to each other! Economics, The Economy & Fiscal Affairs ;Science, Mathematics, Engineering & Technology
The media are desperately afraid of being accused of bias. And that's partly because there's a whole machine out there, an organized attempt to accuse them of bias whenever they say anything that the Right doesn't like. So rather than really try to report things objectively, they settle for being even-handed, which is not the same thing. One of my lines in a column -- in which a number of people thought I was insulting them personally -- was that if Bush said the Earth was flat, the mainstream media would have stories with the headline: 'Shape of Earth--Views Differ.' Then they'd quote some Democrats saying that it was round. Media, Journalism & The Press
The middle-class America of my youth was another country. Economics, The Economy & Fiscal Affairs
The next time you hear some talking head opining on what we must do to satisfy the markets, ask yourself “How does he know?” For the truth is that when people talk about what markets demand, what they’re really doing is trying to bully us into doing what they themselves want. Economics, The Economy & Fiscal Affairs
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. Development & Growth
To have to claim that … workers were impoverished by globalization … you have to forget that those workers were even poorer before the new exporting jobs became available and ignore the fact that those who do not have access to the global markets are far worse than those who do. Foreign Trade
Wall Street indexes predicted nine out of the last five recessions. Economics, The Economy & Fiscal Affairs
We have a constitution that says that the way you get things is by passing legislation, not by threatening to destroy the country unless you get your way. Constitution / Bills & Declaratiobns of Rights
We should not idealize unions. Occasionally they were corrupt, and sometimes enforced inefficiency. But they helped keep us a middle class society because they provided a counterweight to the power of wealthy individuals and corporations. Labor Unions, Labor Relations & Strikes
As I've often said, you can shop online and find whatever you're looking for, but bookstores are where you find what you weren't looking for.
But Wall Street people are in fact very smart; they're funny, they're not company men who work their way up the chain. Humor ;Work, Workers & The Labor Force
Debt is one person's liability, but another person's asset.
I admit it: I had fun watching right-wingers go wild as health reform finally became law. Health, Healthcare & Medicine
I don't think I've had any great success in predicting politics or social change, nor have I really tried. Success ;Politics, Politicians & Political Campaigning & Fund Raising
I have friends, political scientists, sociologists, who all share an interest at least in certain kinds of science fiction. Science, Mathematics, Engineering & Technology
I think so long as fossil fuels are cheap, people will use them and it will postpone a movement towards new technologies. Environment & Environmentalism
Social Security is a social insurance program - it is not designed to be the same thing as a 401(k).
The great thing about fiscal policy is that it has a direct impact and doesn't require you to bind the hands of future policymakers. Future
The problem isn't that people don't understand how good things are. It's that they know, from personal experience, that things really aren't that good.
The real danger with debt is what happens if lots of people decide, or are forced, to pay it off at the same time. Time
The science fiction world has a lot of people doing seriously imaginative thinking. Science, Mathematics, Engineering & Technology
We know that advanced economies with stable governments that borrow in their own currency are capable of running up very high levels of debt without crisis.