Paul Krugman

Au contraire, says Times columnist and Nobel Prize-winning economist Paul Krugman, who argues today that "Most economists I talk to believe that the big risk to recovery comes from the inadequacy of government efforts: the stimulus was too small, and it will fade out next year, while high unemployment is undermining both consumer and business confidence." Krugman quotes a recent interview during which President Obama warned that "if we keep on adding to the debt, even in the midst of this recovery, that at some point, people could lose confidence in the U.S. economy in a way that could actually lead to a double-dip recession."

Read more: US Debt A 'Phantom Menace,' Krugman Argues | In this article: United States, Barack Obama, Recession, Social Security, and Medicare

Economist and author Paul Krugman has said that "although there has been a lot of doomsaying about the falling dollar, that decline is actually both natural and desirable."

Read more: The Good, the Bad, and the Dollar | In this article: Nasdaq, NYSE, AMZN, INTC, U.S., Economist, The Independent, Timothy Geitner, and George Soros

Krugman's column says "behind the scenes [Obama] better be warning the Chinese that they're playing a dangerous game" and Wolf frames his column as what Obama should have said to Hu, concluding "Did Mr Obama speak so bluntly?

Read more: How Do You Solve a Problem Like Renminbi Depreciation? | In this article: China, Unemployment, Martin Wolf, United States, Tokyo, Brussels, Tax, and IMF

J. Bradford DeLong of Berkeley agreed with Krugman, concluding "Niall Ferguson does indeed know a lot less than economists knew in the 1920s".

Read more: Niall Ferguson | In this article: Niall Ferguson, History, Germany, World War I, Imperialism, Empire, War, Europe, European Union, and United Kingdom

"The Return of Depression Economics and the Crisis of 2008". In the book, he discusses the failure of the United States regulatory system to keep pace with a financial system increasingly out-of-control, and the causes of and possible ways to contain the greatest financial crisis since the 1930s. Economist J. Peter Neary has noted that Krugman "has written on a wide range of topics, always combining one of the best prose styles in the profession with an ability to construct elegant, insightful and useful models." Neary added that "no discussion of his work could fail to mention his transition from Academic Superstar to Public Intellectual. Through his extensive writings, including a regular column for the New York Times, monographs and textbooks at every level, and books on economics and current affairs for the general public ... he has probably done more than any other writer to explain economic principles to a wide audience."

Read more: Paul Krugman | In this article: Paul Robin Krugman, Economics, Enron, George W. Bush, Nobel Memorial Prize in Economic Sciences, Massachusetts Institute of Technology, Japan, Alan Greenspan, and United States

Given this forecast, Paul Krugman asks: "Why is anyone talking about an 'exit strategy'?" "The truth is that policy should be piling on," writes Krugman, "not looking for the exit."

Read more: Spending Up, Jobless Claims Down, But Still No Economic Recovery Yet | In this article: Unemployment, Labor Department, Federal Reserve, and US

Krugman writes: "Belgium is politically weak because of the linguistic divide; Italy is politically weak because itaEUR™s Italy. If these countries can run up debts of more than 100 percent of GDP without being destroyed by bond vigilantes, so can we."

Read more: How To Think About The Debt | In this article: Corporate welfare, Italy, Tax, Belgium, and US

But then, as Paul Krugman has aptly explained, Roosevelt "mistakenly heeded the advice of his own era's deficit worriers.

Read more: Pelosi: 'If We Pull Our Punch' On Job Creation, 'We Shouldn't Be Surprised If History Repeats Itself' | In this article: Revenue, Recession, Tax, International Monetary Fund, Goldman Sachs, and Dominique Strauss-Kahn

" "Hamstrung by the nation's $1.4 trillion deficit and his pledge not to raise taxes on middle-class Americans, Mr. Obama is keen to avoid any measures suggestive of a second, big-ticket stimulus," the Journal said. As Paul Krugman noted today, deficit hysteria amounts to "scaring the government into inaction on unemployment. "

Read more: Democrats Considering Direct Jobs Program - Will Deficit Fearmongering Prevent It? | In this article: Comprehensive Employment and Training Act, Unemployment, Tax, Huffington Post, Alan Blinder, Federal Reserve, and John Boehner

"Climate change is the mother of all externalities ... left without any government intervention, we're going to par-boil the planet," says Krugman.

Read more: Obama's Asia Trip: Too Focused On Common Ground? | In this article: Barack Obama, Climate change, Asia, Wen Jiabao, Xi Jinping, Beijing, Sudan, China, and Hu Jintao