Economist:Paul Krugman

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Paul Krugman

Biography

American economist and Nobel laureate (2008), columnist for The New York Times.

School of Thought

New Keynesian Economics

Notable Quotes

On Productivity Paradox in Digital Age

"Productivity isn't everything, but in the long run it is almost everything."[1]

On Innovation Cycles and Market Bubbles

"By 2005 or so, it will become clear that the Internet's impact on the economy has been no greater than the fax machine's."[2]

On Zero Marginal Cost Society

"The problem with digital goods is that they have high fixed costs and zero marginal costs."[3]


References

  1. ↑ Paul Krugman, The Age of Diminished Expectations (1990), p. 11, MIT Press
  2. ↑ Paul Krugman, Red Herring Magazine (1998)
  3. ↑ Paul Krugman, The Return of Depression Economics (2009), p. 189, W.W. Norton

Additional Notable Quotes

On Deflation and Central Banking

"Debt is money we owe to ourselves."[1]

On Digital Currency and Monetary Policy

"Bitcoin is a bubble wrapped in techno-mysticism inside a cocoon of libertarian ideology."[2]

On Deflation and Central Banking

"The real danger is deflation, not inflation."[3]

  1. ↑ Paul Krugman, New York Times (2015), February 6, 2015, "Nobody Understands Debt"
  2. ↑ Paul Krugman, New York Times (2018), January 29, 2018, "Bubble, Bubble, Fraud and Trouble"
  3. ↑ Paul Krugman, End This Depression Now! (2012), p. 38, W. W. Norton
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