[I]n America, at least, we have a pretty good record for behaving in a fiscally responsible fashion, with one exception - namely, the fiscal irresponsibility that prevails when, and only when, hard-line conservatives are in power.
Paul KrugmanThe great thing about fiscal policy is that it has a direct impact and doesn't require you to bind the hands of future policymakers.
Paul Krugman[I]f one asks what substantive contributions [F. A. Hayek] made to our understanding of how the world works, one is left at something of a loss. Were it not for his politics, he would be virtually forgotten.
Paul KrugmanMost work in macroeconomics in the past 30 years has been useless at best and harmful at worst.
Paul KrugmanI've always believed in expansionary monetary policy and if necessary fiscal policy when the economy is depressed.
Paul KrugmanThe 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 Krugman