The key reason executives are paid so much now is that they appoint the members of the corporate board that determines their compensation and control many of the perks that board members count on. So it's not the invisible hand of the market that leads to those monumental executive incomes; it's the invisible handshake in the boardroom.
Paul KrugmanThe real danger with debt is what happens if lots of people decide, or are forced, to pay it off at the same time.
Paul KrugmanThe important thing to understand is that the case for pollution control isn't based on some kind of aesthetic distaste for industrial society. Pollution does real, measurable damage, especially to human health.
Paul Krugman...instead it seems that business - like weight loss - is a subject wherein hope and fear inspire limitless gullibility.
Paul KrugmanYou really have to go searching desperately to find any contemporary examples of good, old-fashioned runaway inflation.
Paul Krugman