Quotes by Paul Krugman

Politics determines who has the power, not who has the truth.

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.

I believe in a relatively equal society, supported by institutions that limit extremes of wealth and poverty. I believe in democracy, civil liberties, and the rule of law. That makes me a liberal, and I’m proud of it.

These are tough times for state governments. Huge deficits loom almost everywhere, from California to New York, from New Jersey to Texas.Wait—Texas? Wasnt Texas supposed to be thriving even as the rest of America suffered? Didnt its governor declare, during his re-election campaign, that we have billions in surplus? Yes, it was, and yes, he did. But reality has now intruded, in the form of a deficit expected to run as high as $25 billion over the next two years.And that reality has implications for the nation as a whole. For Texas is where the modern conservative theory of budgeting—the belief that you should never raise taxes under any circumstances, that you can always balance the budget by cutting wasteful spending—has been implemented most completely. If the theory cant make it there, it cant make it anywhere.

The media are desperately afraid of being accused of bias. And thats partly because theres a whole machine out there, an organized attempt to accuse them of bias whenever they say anything that the Right doesnt 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 theyd quote some Democrats saying that it was round.

[Conventional wisdom] very heavily tends to reflect the preferences and the interests of the elite.

The appeal to the intellectually insecure is also more important than it might seem. Because economics touches so much of life, everyone wants to have an opinion. Yet the kind of economics covered in the textbooks is a technical subject that many people find hard to follow. How reassuring, then, to be told that it is all irrelevant -- that all you really need to know are a few simple ideas! Quite a few supply-siders have created for themselves a wonderful alternative intellectual history in which John Maynard Keynes was a fraud, Paul Samuelson and even Milton Friedman are fools, and the true line of deep economic thought runs from Adam Smith through obscure turn-of-the-century Austrians straight to them.

Some people want the past repeated and have an interest in making sure we dont remember it.

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.

Programmers have a saying: garbage in, garbage out.

And thats just the beginning. More and more, conventional wisdom says that the responsible thing is to make the unemployed suffer. And while the benefits from inflicting pain are an illusion, the pain itself will be all too real.

[W]hat possible purpose does this lashing-out serve? Will activists be shamed into recovering their previous enthusiasm? Will Republicans stop their vicious attacks because Obama is lashing out to his left? It was pure self-indulgence; even if he feels aggrieved, he has to judge his words by their usefulness, not by his desire to vent. This isnt about him.

The science fiction world has a lot of people doing seriously imaginative thinking.

The problem isnt that people dont understand how good things are. Its that they know, from personal experience, that things really arent that good.

I think so long as fossil fuels are cheap, people will use them and it will postpone a movement towards new technologies.

“Politics determines who has the power, not who has the truth.”