Paul Krugman
Trade economist, Nobel laureate in 2008 for his work on economic geography, professor emeritus at Princeton and the CUNY Graduate Center, and a New York Times columnist from 1999 to 2024. Now writes on Substack.
Paul Krugman did not write this page.
We collected these quotes from things they published elsewhere, and every quote links to where it was said. They have no account here and have not endorsed this site. Quotes are word for word; the short line under each one is our own restatement, not their wording. Their own site. Is this you? Claim it or ask us to remove it. Or tell us what is wrong here.
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Their wordsBillionaires should not be making decisions critical to national security.
↗The Starlink-Ukraine Scandal, Phase 2paulkrugman.substack.com
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Their wordsThis is actually telling you that having national security interests explicitly under control of elected politicians is a good thing even if the politicians have bad intentions.
↗The Starlink-Ukraine Scandal, Phase 2paulkrugman.substack.com
- 1 day earlier
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Their wordsNo private individual should, or indeed even have the capability to, make national security policy.
↗It’s Time to Take Starlink Away from Elon Muskpaulkrugman.substack.com
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Our reading
In a democracy, property rights do not include the right to act against the nation's interest.
Their wordsAnd in a democracy, the rights of private property don’t and never have included the right to act against the nation’s interest — where democratically elected representatives of the people, not business owners, should decide what is in the nation’s interest.
↗It’s Time to Take Starlink Away from Elon Muskpaulkrugman.substack.com
- 1 day earlier
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Their wordsThere has been a catastrophic decline in health insurance coverage combined with sharply rising premiums for many of those who have managed to hang on to their coverage. And this, too, is all on Trump.
↗Trump is Destroying Americans’ Healthcarepaulkrugman.substack.com
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Their wordsAnd while presidents usually have much less influence on the economy than is generally recognized, the current outbreak of high inflation is all on Donald Trump.
↗Trump is Destroying Americans’ Healthcarepaulkrugman.substack.com
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Their wordsAnd because many of the savage cuts Trump and his allies have imposed on healthcare have yet to kick in, the situation will get much worse in the years ahead.
↗Trump is Destroying Americans’ Healthcarepaulkrugman.substack.com
- 1 day earlier
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Their wordsFirst, Trump and his inner circle don’t just love autocrats. They hate democracy and rule of law — which means that they hate America and American values.
- 1 day earlier
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Their wordsAnd Trump is about to go bankrupt — not financially (he’s made billions through corruption) but politically.
↗Donald Trump is Politically Bankrupt. Be Very Afraidpaulkrugman.substack.com
- 1 day earlier
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Their wordsSo when investment is diverted away from other sectors to AI, the overall demand for labor falls relative to what it would have been before the shift. Hence, the AI boom will depress the demand for labor in the economy.
↗AI, Rising Inequality and Rising Oligarchypaulkrugman.substack.com
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Their wordsIn other words, a falling labor share accelerates the downward spiral of the country into oligarchy.
↗AI, Rising Inequality and Rising Oligarchypaulkrugman.substack.com
- 2 days earlier
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Their wordsMy basic point — that Trump inherited a relatively benign inflation picture and threw that inheritance away with his tariffs and war — is even clearer from the PPI than the CPI.
↗The Bad News on Inflation Just Keeps Comingpaulkrugman.substack.com
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Their wordsAnd the PPI is often a leading indicator of future consumer prices, so there’s no relief visible in the near future.
↗The Bad News on Inflation Just Keeps Comingpaulkrugman.substack.com
- 1 day earlier
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Their wordsBut there is no question who is responsible for the resurgence in inflation: this is all on Trump, first the tariffs and then then the Iran war.
↗On Inflation, Trump Snatched Defeat from the Jaws of Victorypaulkrugman.substack.com
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Their wordsAnd there’s a big risk that the succession of inflation shocks will do what the post-Covid shock didn’t: get entrenched in expectations, so that we will need a recession to get inflation back down.
↗On Inflation, Trump Snatched Defeat from the Jaws of Victorypaulkrugman.substack.com
- 1 day earlier
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Their wordsUnfortunately, a corrupt, partisan majority on the Supreme Court, invoking the “unitary executive” theory, has given Trump a huge amount of untrammeled power, especially because he is surrounded by minions — many approved by supine Republicans in Congress — who are willing, even eager to break the law.
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Their wordsAbove all, he will retain immense capacity to inflict destruction on America, not to mention America’s allies.
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Their wordsHe will, of course, claim that the election was rigged and try to overturn the results.
- 1 day earlier
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Their wordsMega-billionaires are more dangerous to democracy than the merely rich
↗Elon Musk Shows Us Why Oligarchy is a Dangerpaulkrugman.substack.com
- 1 day earlier
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Their wordsI might add that this is general issue with Trump: he often touts trivial policies as major achievement, and it often seems obvious that he has no idea how big America and the world are.
↗Arithmetic Suffers from Trump Derangement Syndromepaulkrugman.substack.com
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Their wordsWhat it really tells us is that GDP may seem like a solid, hard number, but estimating that number actually involves a lot of educated guesswork — and different agencies may guess differently.
↗Arithmetic Suffers from Trump Derangement Syndromepaulkrugman.substack.com
- 3 days earlier
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Their wordsItaly has problems — at PPP, its productivity relative to the US fell from 0.91 to 0.79 — but zero growth in a nation that definitely makes considerable use of modern technology just isn’t plausible. More evidence of measurement issues.
- 1 day earlier
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Their wordsFrance’s membership in the euro area creates the possibility of an explosive debt crisis — and such a crisis could be destructive to European unity.
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Their wordsAs the second largest economy in the euro zone, France may have crossed the line from too big to fail to too big to save.
- 2 days earlier
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Their wordsIndeed, in my October 4 primer I argued that the AI boom is the main cause of soaring long-term interest rates.
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Our reading
Massive spending on data centers is crowding out investment in other parts of the economy.
Their wordsMassive spending on data centers is crowding out investment in everything else in the economy.
- 1 day earlier
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Their wordsBut if one combines a closer look at these numbers with a more realistic understanding of public opinion, this poll actually shows that corruption is becoming a serious G.O.P. problem.
↗The Trump Administration is a Cesspit of Corruptionpaulkrugman.substack.com
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Their wordsThe level of corruption that Trump has engaged in and enabled in others is completely unprecedented – self-dealing that, as Trump would say, is like nothing anybody has ever seen before.
↗The Trump Administration is a Cesspit of Corruptionpaulkrugman.substack.com
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Our reading
Democrats will have to prove they are immune to the influence of Big Money once in power.
Their wordsIn addition to battling Trump in his two remaining years of power, they will also have to prove to the American people that they will be immune to the inevitable attempts by Big Money to buy them off through campaign contributions and back-room deals.
↗The Trump Administration is a Cesspit of Corruptionpaulkrugman.substack.com
- 1 day earlier
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Their wordsYet the Iran war appears to have had a triggering effect on financial markets, leading to a reset of market narratives about the future path of Federal Reserve policy.
↗Who Dropped the Bonds? Interest Rates, Part IIpaulkrugman.substack.com