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I've Always Believed In Expansionary Monetary Policy And If Necessary Fiscal Policy When The Economy Is Depressed.
-Paul Krugman
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I've Always Believed In

Paul Krugman
...
I've Always Believed In Expansionary Monetary Policy And If Necessary Fiscal Policy When The Economy Is Depressed.

Understanding the Quote: "i've always believed in expansionary monetary policy and if necessary fiscal policy..."

This quote by Paul Krugman reflects deeply on the theme of fiscal policy. It connects to the universal human journey of purpose, motivation, and reflection. Often categorized under Fiscal Policy, Economy, Monetary Policy, the quote offers insight, emotional clarity, and intellectual inspiration to readers worldwide.

Whether you’re a student exploring new ideas, a leader trying to motivate your team, or someone seeking direction in life — this quote provides value. It resonates because it’s more than words — it’s a bridge between experience and wisdom. It shows how Paul Krugman interprets life's core challenges and triumphs.

Lessons From the Quote

This quote teaches resilience and focus. It reminds readers that no matter where they stand in life, reflection and self-awareness lead to growth. Each word has meaning, and when studied, it becomes clear how impactful thoughtful language can be.

About Paul Krugman

Paul Krugman is celebrated for insightful thoughts on fiscal policy and economy. Their legacy lives on through writings that guide, comfort, and inspire. Discover more on their profile page.

Actionable Takeaways

  • Reflect on how this quote applies to your current life path.
  • Share the message with someone who needs inspiration.
  • Write your thoughts on this quote in a journal or blog post.
  • Use it as a daily affirmation or reminder.

Closing Thoughts

Quotes like this endure because they capture universal truths. They comfort us in solitude and empower us in groups. Carry this quote forward — live by its wisdom, share its message, and keep its essence alive.

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Topic
Fiscal Policy
Economy
Monetary Policy
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Issues
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Ideas
Groups
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Determine
...academic Credentials Are Neither A Necessary Nor A Sufficient Condition For Having Your Ideas Taken Seriously. If A Famous Professor Repeatedly Says Stupid Things, Then Tries To Claim He Never Said Them, There's No Rule Against Calling Him A Mendacious Idiot - And No Special Qualifications Required To Make That Pronouncement Other Than Doing Your Own Homework.conversely, If Someone Without Formal Credentials Consistently Makes Trenchant, Insightful Observations, He Or She Has Earned The Right To Be Taken Seriously, Regardless Of Background.
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Taken
Ideas
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Growth
Levels
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Memories
Perfect
Vision
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Philosophy
Cutting
Government
If You Can Create Even The Illusion Of High Profitability For A Few Years, Then When The Thing Collapses You Can Walk Out Of The Wreckage A Very Rich Man.
Men
Years
Wreckage
Rising Inequality Isn’t About Who Has The Knowledge; It’s About Who Has The Power.
Rising
Inequality
There Is No Economic Policy. That's Really Important To Say. The General Modus Operandi Of The Bushies Is That They Don't Make Policies To Deal With Problems. They Use Problems To Justify Things They Wanted To Do Anyway. So There Is No Policy To Deal With The Lack Of Jobs. There Really Isn't Even A Policy To Deal With Terrorism. It's All About How Can We Spin What's Happening Out There To Do What We Want To Do.
Jobs
Important
Use
Political Figures Who Talk A Lot About Liberty And Freedom Invariably Turn Out To Mean The Freedom To Not Pay Taxes And Discriminate Based On Race; Freedom To Hold Different Ideas And Express Them, Not So Much.
Mean
Race
Ideas
I Don't Think I've Had Any Great Success In Predicting Politics Or Social Change, Nor Have I Really Tried.
Thinking
Great Success
Social
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Sacrifice
Past
Skills
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Silly
Book
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Believe
Thinking
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Impact
Hands
Fiscal Policy
Wealthy Individuals Bought Themselves A Radical Right Party, Believing - Correctly - That It Would Cut Their Taxes And Remove Regulations, But Failed To Realize That Eventually The Craziness Would Take On A Life Of Its Own, And That The Monster They Created Would Turn On Its Creators As Well As The Little People.
Party
Believe
Cutting
Some Years Down The Pike, We're Going To Get The Real Solution, Which Is Going To Be A Combination Of Death Panels And Sales Taxes. It's Going To Be That We're Actually Going To Take Medicare Under Control, And We're Going To Have To Get Some Additional Revenue, Probably From A Vat. But It's Not Going To Happen Now.
Real
Years
Vat
The Public Has No Idea That The Deficit Has Been Falling Like A Stone.
Fall
Ideas
Stones
[i]f One Asks What Substantive Contributions [f. A. Hayek] Made To Our Understanding Of How The World Works, One Is Left At Something Of A Loss. Were It Not For His Politics, He Would Be Virtually Forgotten.
Loss
Understanding
Would Be
Social Security Is A Social Insurance Program - It Is Not Designed To Be The Same Thing As A 401(k).
Social
Program
Security
It's A Funny Thing, By The Way, How People Who Love Free Markets Are Also Quite Sure That They Know That Investors Are Being Irrational.
Funny Things
People
Way
You Know That Republicans Will Yell About The Evils Of Partisanship Whenever Anyone Tries To Make A Connection Between The Rhetoric Of Beck, Limbaugh, Etc. And The Violence I Fear We’re Going To See In The Months And Years Ahead. But Violent Acts Are What Happen When You Create A Climate Of Hate. And It’s Long Past Time For The Gop’s Leaders To Take A Stand Against The Hate-mongers.
Hate
Past
Violent Acts
I've Always Believed That A Speculative Bubble Need Not Lead To A Recession, As Long As Interest Rates Are Cut Quickly Enough To Stimulate Alternative Investments. But I Had To Face The Fact That Speculative Bubbles Usually Are Followed By Recessions. My Excuse Has Been That This Was Because The Policy Makers Moved Too Slowly - That Central Banks Were Typically Too Slow To Cut Interest Rates In The Face Of A Burst Bubble, Giving The Downturn Time To Build Up A Lot Of Momentum.
Philosophy
Cutting
Long
The Trouble With Poverty, As An Issue, Is That It Has Basically Exhausted The Patience Of The General Public.
Patience
Issues
Poverty
So, Very Early Reports Are That Obamacare Exchanges Are, As Expected, Having Some Technical Glitches On The First Day - Maybe Even A Bit Worse Than Expected, Because It Appears That Volume Has Been Much Bigger Than Predicted. Here’s What You Need To Know: This Is Good, Not Bad, News For The Program... Lots Of People Logging On And Signing Up On The Very First Day... Is An Early Indication That It’s Going To Be Fine, That Plenty Of People Will Sign Up For The First Year Of Health Reform.
Years
Obamacare
People
Yes, Over The Centuries Economic Progress Has Reduced Some Gross Disparities - Modern Americans Are Relatively Unlikely To Simply Starve To Death (though It Can Happen), So In That Sense The Gap Between Rich And Poor Has Narrowed. But The Question Isn't Whether Society Is, In Some Sense, More Equal Than It Was In 1900. It's Whether It Is Radically More Unequal Than It Was In 1970. And Of Course It Is.
Justice
Progress
Gaps
I've Always Believed In Expansionary Monetary Policy And If Necessary Fiscal Policy When The Economy Is Depressed.
Fiscal Policy
Economy
Monetary Policy
I Believe That The Only Important Structural Obstacles To World Prosperity Are The Obsolete Doctrines That Clutter The Minds Of Men.
Believe
Men
Mind
A Message To Progressives: By All Means, Hang Senator Joe Lieberman In Effigy.
Mean
Messages
Senators
Most Work In Macroeconomics In The Past 30 Years Has Been Useless At Best And Harmful At Worst.
Past
Years
Useless
There's One Thing That The Fed Has Been Really Good At Cracking Down On, And That's Inflation.
Feds
Inflation
Has Beens
America's Political Landscape Is Infested With Many Zombie Ideas - Beliefs About Policy That Have Been Repeatedly Refuted With Evidence And Analysis But Refuse To Die. The Most Prominent Zombie Is The Insistence That Low Taxes On Rich People Are The Key To Prosperity.
Ideas
America
Keys
...instead It Seems That Business - Like Weight Loss - Is A Subject Wherein Hope And Fear Inspire Limitless Gullibility.
Fear
Loss
Inspire
If You Had To Explain America's Economic Success With One Word, That Word Would Be "education".... Until Now, The Results Of Educational Neglect Have Been Gradual - A Slow-motion Erosion Of America's Relative Position. But Things Are About To Get Much Worse, As The Economic Crisis ... Deals A Severe Blow To Education Across The Board.... We Need To Wake Up And Realize That One Of The Keys To Our Nation's Historic Success Is Now A Wasting Asset. Education Made America Great; Neglect Of Education Can Reverse The Process.
Education
Blow
America
Wealthy Americans Who Benefit Hugely From A System Rigged In Their Favor React With Hysteria To Anyone Who Points Out Just How Rigged The System Is.
Hysteria
Benefits
Favors
Close The Weak Banks And Impose Serious Capital Requirements On The Strong Ones...you See, It May Sound Hard-hearted, But You Cannot Keep Unsound Financial Institutions Operating Simply Because They Provide Jobs.
Strong
Jobs
Philosophy
Not All Private Equity People Are Evil. Only Some.
People
Evil
Equity
And When The Chickens That Didn't Hatch Come Home To Roost, We Will Rue The Day When, Misled By Sloppy Accounting And Rosy Scenarios, We Gave Away The National Nest Egg.
Home
Eggs
Nests
These Days, However, The Main Problem Comes From The Right - From Conservatives Who, Unlike Most Economists, Really Do Think That The Free Market Is Always Right - To Such An Extent That They Refuse To Believe Even The Most Overwhelming Scientific Evidence If It Seems To Suggest A Justification For Government Action.
Believe
Thinking
Government
As I've Often Said, You Can Shop Online And Find Whatever You're Looking For, But Bookstores Are Where You Find What You Weren't Looking For.
Bookstores
Online
Said
The Real Danger With Debt Is What Happens If Lots Of People Decide, Or Are Forced, To Pay It Off At The Same Time.
Real
People
Debt
Are You, Or Is Someone You Know, A Gadget Freak? If So, You Doubtless Know That Wednesday Was Iphone 5 Day, The Day Apple Unveiled Its Latest Way For People To Avoid Actually Speaking To Or Even Looking At Whoever They're With.
Funny
Technology
Iphone
What Saved The Economy, And The New Deal, Was The Enormous Public Works Project Known As World War Ii, Which Finally Provided A Fiscal Stimulus Adequate To The Economy’s Needs.
War
Needs
World
The Party Of Ideas Has Become The Party Of Beavis And Butthead.
Party
Ideas
Beavis
Debt Is One Person's Liability, But Another Person's Asset.
Debt
Assets
Liability
Middle-class Societies Don't Emerge Automatically As An Economy Matures, They Have To Be Created Through Political Action.
Class
Political
Action
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.
Running
Jobs
Philosophy
The Raw Fact Is That Every Successful Example Of Economic Development This Past Century – Every Case Of A Poor Nation That Worked Its Way Up To A More Or Less Decent, Or At Least Dramatically Better, Standard Of Living – Has Taken Place Via Globalization, That Is, By Producing For The World Market Rather Than Trying For Self-sufficiency.
Taken
Successful
Past
What Republicans Have Actually Put On The Table Is Almost Nothing. All Of The Rest Is Just Big Talk. So How Is The President Supposed To Negotiate With People Who Say, 'here's My Demands. By The Way, I Can't Give You Any Specifics. Just Make Me Happy'?
People
Giving
President
Unsustainable Situations Usually Go On Longer Than Most Economists Think Possible. But They Always End, And When They Do, It's Often Painful.
Thinking
Goes On
Painful
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