By rescuing the financial system without reforming it, Washington has done nothing to protect us from a new crisis, and, in fact, has made another crisis more likely.
Paul KrugmanIt's a funny thing, by the way, how people who love free markets are also quite sure that they know that investors are being irrational.
Paul KrugmanMost work in macroeconomics in the past 30 years has been useless at best and harmful at worst.
Paul KrugmanThe trouble with poverty, as an issue, is that it has basically exhausted the patience of the general public.
Paul Krugman[T]he next time you hear serious-sounding people explaining the need for fiscal austerity, try to parse their argument. Almost surely, you'll discover that what sounds like hardheaded realism actually rests on a foundation of fantasy, on the belief that invisible vigilantes will punish us if we're bad and the confidence fairy will reward us if we're good. And real-world policy - policy that will blight the lives of millions of working families - is being built on that foundation.
Paul Krugman