Paul Krugman Quotes

Debt relief without the opening of markets will not relieve third world countries from their poverty.

India, China, and Latin America have a tremendous stake in the people's century. As their masses learn to read and write, and as they become productive mechanics, their standard of living will double and treble.

Over the last three decades, Mexico has made the transition from a commodity and agricultural-based economy to one dominated by manufacturing and services.

... a better government: more complete security of property; moderate taxes; a more permanent ... tenure of land ... the introduction of foreign arts ... and the introduction of foreign capital, which renders the increase of production no longer exclusively on the thrift or providence of the inhabitants themselves.

We seek to move from aid to trade.

The primary task of developing countries is to develop the economy and eradicate poverty. Without economic growth, there would be no material basis for a better life or better environment for the people. But economic growth must not be achieved at the cost of environment or resources. In the absence of proper resource and environmental protection, there could be no sustainable economic development.

It is enlightened selfishness to build up the ability of other nations to a higher standard of living. We thus produce wider markets for ourselves as well as the rest of the world

China's economic transformation began with the introduction in the 1980s of market incentives in the agricultural sector. These reforms were followed by a gradual opening to the global economy, a process that accelerated in the early 1990s.

It was good to launch the economy in the '50s. Japan did this; China did this; even South Korea did this. All the East Asians did this - import substitution. I think all countries followed import substitution in the '50s and in the '60s, but I think by the '70s, countries were getting out of that first phase of the strategy.

Between 2001 and 2011, Brazil lifted 20 million people out of poverty and into its growing middle class, and in the last quarter of the twentieth century Botswana's gross domestic product per capita grew faster than that of any other country on the planet. The once-labeled 'Third World' is edging its way into the 'First World.'

We all know that China is industrializing at a growth rate of 8 to 10 percent per year. China is on track to pass the U.S. as the largest economy in the world in 20 to 25 years, and China is determined to give its people a chance at this high standard of living that we enjoy.

The basic idea was that if a country would put its economy as an integrated piece of the world system, that it would benefit from that with economic growth. I concur with that basic view.

The growth of means of transport has created a world market and an opportunity for division of labor embracing all the developed and most of the undeveloped states.

History is full of examples of poorer nations that become wealthy by exploiting their comparative advantage in cheap labor to become globally competitive in a range of manufacturing industries.... If robots are expected to take over many of the menial jobs currently performed by people, the concern should not be for the working class in wealthy countries but for the billions living in the developing world who will now have lost the only established ladder out of poverty.

If Pakistan is to play its proper role in the world to which its size, manpower and resources entitle it; it must develop industrial potential side by side with its agriculture and give its economy an industrial bias. By industrializing our State, we shall decrease our dependence on the outside world for necessities of life; we will give more employment to our people and will also increase the resources of the State.

In the rich countries the poor expect a quantity and quality of commodities beyond the dreams of Louis XIV, while many of the so-called developing countries enjoy much higher economic growth rates than those of industrialized countries at a similar stage of their own histories.

Free trade is the result of prosperity rather than the cause of prosperity .... Without growth over a long period of time you will not have a political commitment to free trade.

When you lower trade barriers and level the playing field, you create a mutual pool of wealth.

Although a Kingdom may be enriched by gifts received, or by purchase taken from some other Nations, yet these are things uncertain and of small consideration when they happen. The ordinary means therefore to increase our wealth and treasure is by Foreign Trade

Globalization has very materially improved the standard of living in the Unitied States... as it has for those countries that have chosen to operate with free trade…. Although none of us likes our competitors, competition has greatly improved our standard of living.

We have quit discussing the tariff, and have turned our attention to getting trade wherever it can be found.

Except for a few oil-rich countries, no developing country has successfully modernized without slowing population growth.

When you export unprocessed goods, in simple words, you are exporting jobs, taxes, and other key economic opportunities... it is high time we stopped this outdated trade system.

Opulent, civilized, and industrious nations, are greater consumers than poor ones, because they are infinitely greater producers.

I want the standard of living in Iran in ten years' time to be exactly on a level with that in Europe today. In twenty years' time we shall be ahead of the United States.