Paul Krugman Quotes About Microeconomics
-
It should be possible to emphasize to students that the level of employment is a macroeconomic issue, depending in the short run on aggregate demand and depending in the long run on the natural rate of unemployment, with microeconomic policies like tariffs having little net effect. Trade policy should be debated in terms of its impact on efficiency, not in terms of phoney numbers about jobs created or lost.
→ -
Governments do not necessarily act in the national interest, especially when making detailed microeconomic interventions. Instead, they are influenced by interest group pressures. The kinds of interventions that new trade theory suggests can raise national income will typically raise the welfare of small, fortunate groups by large amounts, while imposing costs on larger, more diffuse groups.
→
Related Authors
-
Paul Romer Economist -
Thomas Piketty Economist -
Paul Samuelson Economist -
Jonathan Chait Commentator -
Tyler Cowen Economist -
David Brooks Commentator -
Robert Reich Former United States Secretary of Labor -
Ezra Klein Journalist -
Nouriel Roubini Economist -
Thomas Friedman Journalist -
Niall Ferguson Historian -
Joseph Stiglitz Economist -
Bill Maher Comedian -
Jeffrey Sachs Economist -
John Maynard Keynes Economist -
Milton Friedman Economist -
Greg Mankiw Author -
Matthew Yglesias Journalist -
Robin Wells Economist -
Andrew Sullivan Author