Paul Robin Krugman (pronounced /ˈkruːɡmən/;[3] born February 28, 1953) is an American economist, columnist and author. He is Professor of Economics and International Affairs at the Woodrow Wilson School of Public and International Affairs at Princeton University, Centenary Professor at the London School of Economics, and an op-ed columnist for The New York Times.[4][5] In 2008, Krugman won the Nobel Memorial Prize in Economics for his contributions to New Trade Theory and New Economic Geography. He was voted sixth in a 2005 global poll of the world's top 100 intellectuals by Prospect.[6]
According to the Nobel Prize Committee, the prize was given for Krugman's work explaining the patterns of international trade and the geographic concentration of wealth, by examining the impact of economies of scale and of consumer preferences for diverse goods and services.[7] Krugman is known in academia for his work on international economics (including trade theory, economic geography, and international finance),[8][9] liquidity traps and currency crises. According to IDEAS/REPEC (a ranking of Economists by article citations), his work has made him one of the most influential economists in the world, and he is among the 12 most widely cited economists.[10]
As of 2008, Krugman has written 20 books and has published over 200 scholarly articles in professional journals and edited volumes.[11] He has also written more than 750 columns dealing with current economic and political issues for The New York Times. Krugman's International Economics: Theory and Policy, co-authored with Maurice Obstfeld, is a standard college textbook on international economics. He also writes on political and economic topics for the general public, as well as on topics ranging from income distribution to international economics. Krugman considers himself a liberal, calling one of his books and his New York Times blog "The Conscience of a Liberal".[12]
A liberal made a liberal comment? STOP THE PRESSES!!!!
U.S. economic policies
In the early 2000s, Krugman repeatedly criticized the Bush tax cuts, both before and after they were enacted. Krugman argued that the tax cuts enlarged the budget deficit without improving the economy, and that they enriched the wealthy – worsening income distribution in the US.[73][98][99][100][101] Krugman advocated lower interest rates (to promote spending on housing and other durable goods), and increased government spending on infrastructure, military, and unemployment benefits, arguing that these policies would have a larger stimulus effect, and unlike permanent tax cuts, would only temporarily increase the budget deficit.[101]
In August 2005, after Alan Greenspan expressed concern over housing markets, Krugman criticized Greenspan's earlier reluctance to regulate the mortgage and related financial markets, arguing that "[he's] like a man who suggests leaving the barn door ajar, and then – after the horse is gone – delivers a lecture on the importance of keeping your animals properly locked up."[102]
Krugman has repeatedly expressed his view that Greenspan and Phil Gramm are the two individuals most responsible for causing the subprime crisis. Krugman points to Greenspan and Gramm for the key roles they played in keeping derivatives, financial markets, and investment banks unregulated, and to the Gramm-Leach-Bliley Act, which repealed Great Depression era safeguards that prevented commercial banks, investment banks and insurance companies from merging.[103][104][105][106]
Paul Krugman is nothing more than a political hack. Every single word out of that mans mouth is based on politics, not actual economic reality.
Paul Krugman is nothing more than a political hack. Every single word out of that mans mouth is based on politics, not actual economic reality.
Other than he is right.. but hey dont let the facts get in your way.
Suppose if he was Austrian School economist they would appreciate what he says more?
Other than he is right.. but hey dont let the facts get in your way.
Too bad history doesn't agree with you, or comrade Krugman.
Too bad history doesn't agree with you, or comrade Krugman.
Too bad history doesn't agree with you, or comrade Krugman.
Paul Krugman predicted the recession would happen based on a faulty mortgages. He was absolutely right...
A liberal made a liberal comment? STOP THE PRESSES!!!!
LOL lame argument. Name one-time tax cuts in general created massive amounts of jobs, let alone tax cuts primarily for the rich?
As the Senate appears ready to finally pass an extension of unemployment benefits, two dozen more economists, including two Nobel Prize winners, have joined the call for action now, swelling the total of economic thought leaders to 40.
Yesterday morning, 16 notable economists, historians and thought leaders, including Joseph Stiglitz, Alan Blinder, Robert Reich, Richard Parker, Derek Shearer, Laura Tyson, and Sir Harold Evans issued a manifesto calling for more government stimulus and tax credits to save the economy and put America back to work.
By yesterday afternoon, two dozen more leading economists, including Nobel winners Eric Maskin and Daniel McFadden, had signed on, bringing the total to 40. Several of them went further, appending statements about why they thought this was so crucial to our collective future.
Let me ask the people here soemthing. What do you suppose would have happened if the banks, AIG, Lehman, GM, et al.. Would have all been allowed to fail, and instead the TARP/stimulus money was used to keep, We The People afloat? Now, I'm not advocating this, but it would help to see the level of interest people making comment on economic issues here have actually thought of the alternative? remember, with the stimulus, and TARP, we're talking well over 1.5 trillion. That's an awful lot of unemployment insurance..
Tim-
Let me ask the people here soemthing. What do you suppose would have happened if the banks, AIG, Lehman, GM, et al.. Would have all been allowed to fail, and instead the TARP/stimulus money was used to keep, We The People afloat? Now, I'm not advocating this, but it would help to see the level of interest people making comment on economic issues here have actually thought of the alternative? remember, with the stimulus, and TARP, we're talking well over 1.5 trillion. That's an awful lot of unemployment insurance..
Tim-
Take it up with the finance industry .. you know try to regulate them and stuff like that. Try to rein in the market while the dominate people in the market engage in "voodo economics" in a fundamentalist way. TARP was a republican emergency plan from 2008.
Republican does not equate to conservative. TARP was a congressional plan from 2008. Just wanted to correct you there.
Tim-
Oh so who do conservatives vote for?
LOL lame argument. Name one time tax cuts in general created massive amounts of jobs, let alone tax cuts primarily for the rich?
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