Unsustainable situations usually go on longer than most economists think possible. But they always end, and when they do, it's often painful.
Paul KrugmanClose the weak banks and impose serious capital requirements on the strong ones...You see, it may sound hard-hearted, but you cannot keep unsound financial institutions operating simply because they provide jobs.
Paul Krugman...instead it seems that business - like weight loss - is a subject wherein hope and fear inspire limitless gullibility.
Paul KrugmanYou know that Republicans will yell about the evils of partisanship whenever anyone tries to make a connection between the rhetoric of Beck, Limbaugh, etc. and the violence I fear weโre going to see in the months and years ahead. But violent acts are what happen when you create a climate of hate. And itโs long past time for the GOPโs leaders to take a stand against the hate-mongers.
Paul KrugmanRepublican candidates had to appeal to their base, which is by and large elderly white people arguing with empty chairs.
Paul KrugmanYes, over the centuries economic progress has reduced some gross disparities - modern Americans are relatively unlikely to simply starve to death (though it can happen), so in that sense the gap between rich and poor has narrowed. But the question isn't whether society is, in some sense, more equal than it was in 1900. It's whether it is radically more unequal than it was in 1970. And of course it is.
Paul Krugman