Paul Krugman Quotes

No I don't think it was a myth at all, anymore than what the recession that the whole country was experiencing was a myth, which obviously seems like it's going to get worse and worse.

It's a recession when your neighbor loses his job; it's a depression when you lose yours.

America had been a boom-and-bust economy going into the Great Depression - just over and over and over, fortunes were wiped out, ordinary families were crushed under it.

A recession is a period in which you tighten your belt. In a depression, you have no belt to tighten. In a panic you have no pants left to hold up.

So I analyzed that and decided I didn't want to be the president during a depression greater than the Great Depression, or the beginning of a depression greater than the Great Depression.

Science knows no politics. Are we in this frenzy of [the Depression] economy, brought about by those who control the wealth of this country, seeking to put a barrier on science and research for the paltry sum of $39,113 out of an appropriation of $100,000,000?

Republicans don't like people to talk about depressions. You can hardly blame them for that. You remember the old saying: Don't talk about rope in the house where somebody has been hanged.

A recession is when your neighbour has to tighten his belt. A depression is when you have to tighten your own belt. And a panic is when you have no belt to tighten and your pants fall down.

I think people - what people want to do is make [economy] get worse.

What the Depression teaches us is that when the economy is so depressed that even a zero interest rate isn't low enough, you have to put conventional notions of prudence and sound policy aside.

A recession is when your neighbor loses his job. A depression is when you lose yours.

I was born in 1928 and by 1931 the Depression was beginning to mount.

When our economy is not growing, those least able to look after themselves are the first thrown overboard ...

But the time will come when New England will be as thickly peopled as old England. Wages will be as low, and will fluctuate as much with you as with us… hundreds of thousands of artisans will assuredly be sometimes out of work. Then your institutions will be fairly brought to the test.

Europe is on an economic collision course with reality.

The upward economic movement in America has undoubtedly reached its end – the crisis has come.

The periods of unemployment accompanying depression in the business cycle ... present a challenge to all our claims to progress, humanity, and civilization.

The Depression has caused an emergency more serious than war.

From now on, depressions will be scientifically created.

If only we can avoid a repetition of the depression that culminated in Mr. Hoover's Administration, we will be very fortunate. This depression, of course, had nothing to do with President Hoover's policies, but was the result of after-war activities by certain groups in this country which, I fear, may be duplicated again unless the people and the Congress are very wary.

When Americans—or citizens of any country—are faced with significant economic forces beyond their control, they struggle for answers, and often act out of frustration. The result is more turbulent politics, more strident cultural nationalism, and violence, as people seek ways to improve their economic situation … when the pie is shrinking.

As far as I can find, almost no one in the profession - not even luminaries like John Maynard Keynes, Friedrich Hayek, or Irving Fisher - made public statements anticipating the Great Depression.

Money and success haven't really changed my beliefs or opinions over the years. When I was growing up, my mum and dad split when I was 13 or 14, during the early-Nineties recession. At that time, my dad went bankrupt, and it played a huge part in it all at home.

The Russian economy is tanking. It's gotten so bad that today Vladimir Putin had to pawn his stolen Super Bowl ring. And Putin will finance his next invasion on Kickstarter.

Economic storm is coming and the stress levels are going to increase because of financial worries.