If it were profitable to have indentured servants in the modern world, I'm sure that Richard Scaife's think tanks would have no trouble finding justifications, and assorted Christian groups would explain why it's God's will.

Paul Krugman

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Wealthy Americans who benefit hugely from a system rigged in their favor react with hysteria to anyone who points out just how rigged the system is.

Paul Krugman

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On the political as on the economic front it's important not to fall into the "not as bad as" trap. High unemployment isn't O.K. just because it hasn't hit 1933 levels; ominous political trends shouldn’t be dismissed just because there’s no Hitler in sight.

Paul Krugman

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In our country, learned ignorance is on the rise.

Paul Krugman

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Political figures who talk a lot about liberty and freedom invariably turn out to mean the freedom to not pay taxes and discriminate based on race; freedom to hold different ideas and express them, not so much.

Paul Krugman

Mots clés freedom

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Now, it’s true that some of the protesters are oddly dressed or have silly-sounding slogans, which is inevitable given the open character of the events. But so what? I, at least, am a lot more offended by the sight of exquisitely tailored plutocrats, who owe their continued wealth to government guarantees, whining that President Obama has said mean things about them than I am by the sight of ragtag young people denouncing consumerism.

Paul Krugman

Mots clés wealth economics united-states protest inequality consumerism barack-obama plutocracy occupy-wall-street

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open immigration can’t exist with a strong social safety net; if you’re going to assure healthcare and a decent income to everyone, you can’t make that offer global

Paul Krugman

Mots clés free-migration open-borders open-immigration

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As long as there are no routes back to full employment except that of somehow restoring business confidence, he pointed out, business lobbies in effect have veto power over government actions: propose doing anything they dislike, such as raising taxes or enhancing workers' bargaining power, and they can issue dire warnings that this will reduce confidence and plunge the nation into depression. But let monetary and fiscal policy be deployed to fight unemployment, and suddenly business confidence becomes less necessary, and the need to cater to capitalists' concern is much reduced.

Paul Krugman

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These senior claims were supposed to be very low-risk; after all, how likely was it that a large number of people would default on their mortgages at the same time? The answer, of course, is that it was quite likely in an environment where homes were worth 30, 40, 50 percent less than the borrowers originally paid for them. So a lot of supposedly safe assets, assets that had been rated AAA by Standard

Paul Krugman

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There's another element in the euro crisis, another weakness of a shared currency, that took many people, myself included, by surprise. It turns out that countries that lack their own currency are highly vulnerable to self-fulfilling panic, in which the efforts of investors to avoid losses from default end up triggering the very default they fear.

Paul Krugman

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