Paul Krugman

Paul Krugman is professor of Economics and International Affairs at Princeton University and a regular columnist for The New York Times. Krugman was the 2008 recipient of the Nobel Prize in Economics. He is the author of numerous books, including The Conscience of A Liberal, The Return of Depression Economics, and his most recent, End This Depression Now!.

Articles by this author

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Friday, July 10, 2009
The Stimulus Trap
As soon as the Obama administration-in-waiting announced its stimulus plan — this was before Inauguration Day — some of us worried that the plan would prove inadequate. And we also worried that it might be hard, as a political matter, to come back for another round.
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Friday, July 03, 2009
That '30s Show
O.K., Thursday's jobs report settles it. We're going to need a bigger stimulus. But does the president know that? Let's do the math. Since the recession began, the U.S. economy has lost 6 ½ million jobs - and as that grim employment report confirmed, it's continuing to lose jobs at a rapid pace. Once you take into account the 100,000-plus new jobs that we need each month just to keep up with a growing population, we're about 8 ½ million jobs in the hole.
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Monday, June 29, 2009
Betraying the Planet
So the House passed the Waxman-Markey climate-change bill. In political terms, it was a remarkable achievement. But 212 representatives voted no. A handful of these no votes came from representatives who considered the bill too weak, but most rejected the bill because they rejected the whole notion that we have to do something about greenhouse gases. And as I watched the deniers make their arguments, I couldn't help thinking that I was watching a form of treason - treason against the planet.
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Friday, June 26, 2009
Not Enough Audacity
When it comes to domestic policy, there are two Barack Obamas. On one side there's Barack the Policy Wonk, whose command of the issues - and ability to explain those issues in plain English - is a joy to behold. But on the other side there's Barack the Post-Partisan, who searches for common ground where none exists, and whose negotiations with himself lead to policies that are far too weak.
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Monday, June 22, 2009
Health Care Showdown: The Alleged 'Center' Must Not Hold
America’s political scene has changed immensely since the last time a Democratic president tried to reform health care. So has the health care picture: with costs soaring and insurance dwindling, nobody can now say with a straight face that the U.S. health care system is O.K. And if surveys like the New York Times/CBS News poll released last weekend are any indication, voters are ready for major change.
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Friday, June 19, 2009
Out of the Shadows
Would the Obama administration's plan for financial reform do what has to be done? Yes and no. Yes, the plan would plug some big holes in regulation. But as described, it wouldn't end the skewed incentives that made the current crisis inevitable. Let's start with the good news. Our current system of financial regulation dates back to a time when everything that functioned as a bank looked like a bank. As long as you regulated big marble buildings with rows of tellers, you pretty much had things nailed down.
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Monday, June 15, 2009
Stay the Course
The debate over economic policy has taken a predictable yet ominous turn: the crisis seems to be easing, and a chorus of critics is already demanding that the Federal Reserve and the Obama administration abandon their rescue efforts. For those who know their history, it's déjà vu all over again - literally. For this is the third time in history that a major economy has found itself in a liquidity trap, a situation in which interest-rate cuts, the conventional way to perk up the economy, have reached their limit.
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Friday, June 12, 2009
The Big Hate
Back in April, there was a huge fuss over an internal report by the Department of Homeland Security warning that current conditions resemble those in the early 1990s — a time marked by an upsurge of right-wing extremism that culminated in the Oklahoma City bombing. Conservatives were outraged. The chairman of the Republican National Committee denounced the report as an attempt to “segment out conservatives in this country who have a different philosophy or view from this administration” and label them as terrorists.
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Monday, June 01, 2009
Reagan Did It
"This bill is the most important legislation for financial institutions in the last 50 years. It provides a long-term solution for troubled thrift institutions. ... All in all, I think we hit the jackpot." So declared Ronald Reagan in 1982, as he signed the Garn-St. Germain Depository Institutions Act.
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Friday, May 22, 2009
Blue Double Cross
That didn’t take long. Less than two weeks have passed since much of the medical-industrial complex made a big show of working with President Obama on health care reform — and the double-crossing is already well under way. Indeed, it’s now clear that even as they met with the president, pretending to be cooperative, insurers were gearing up to play the same destructive role they did the last time health reform was on the agenda.
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