Paul Krugman Quotes
Europe is often held up as a cautionary tale, a demonstration that if you try to make the economy less brutal, to take better care of your fellow citizens when they're down on their luck, you end up killing economic progress. But what European experience actually demonstrates is the opposite: social justice and progress can go hand in hand.
Krugman, Paul. "French Connections." The New York Times, 29 July 2005.
As hard as it is for us to imagine today, while her husband was President of the United States, the First Lady wrote a nationally syndicated newspaper column every single day with politics frequently the subject. While she usually agreed with the President, there were occasions where they seemed to not see things exactly the same. She tended to be more liberal than he. However, there were those who believed that when she criticized politicians, it was with FDR’s knowledge and blessing and she sometimes did his “dirty work.” Eleanor Roosevelt was one of the most influential people in the country—certainly more-so than any First Lady before and since.
The “War on Poverty” had an intellectual precursor.
Almost all of the successful welfare states have also had a strong and successful capitalistic economy.
At the time of this quotation, the nation had gone through more than 3 decades of enormous increase in prosperity for the wealthy, and modest gains for the highly skilled, technically trained workers. However, correcting for inflation, average salaries did not increase at all. The middle class was particularly hard hit. Only 20 percent of the population benefitted from the growth at all; however, the 1 percent had rarely prospered more. Kenworthy’s principle did not apply for this period of American history.
Paul Robin Krugman is an American economist who is the 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.
