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No, the problem that the politicians have with the professors is not one of failure to communicate; it is one of failure to say what politicians want… - Paul Krugman
" "No, the problem that the politicians have with the professors is not one of failure to communicate; it is one of failure to say what politicians want (need) to hear, especially when they are trying to seize power from other politicians. And necessity is the mother of invention: a different group, the policy entrepreneurs, has arisen to fill the gap.
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About Paul Krugman
Paul Robin Krugman (born February 28, 1953) is an American New Keynesian economist, Professor of Economics and International Affairs at the Woodrow Wilson School of Public and International Affairs at Princeton University, Centenary Professor at the London School of Economics, and a former op-ed columnist for The New York Times.
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Paul Robin Krugman
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Paul R Krugman
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Additional quotes by Paul Krugman
The first stage of Friedman's attack on Keynes was his effective though somewhat slippery critique of the idea that monetary and fiscal policy can be actively used to smooth out the business cycle. Friedman argued that such active policy is not only unnecessary but actually harmful, worsening the very economic instability that it is supposed to correct, and should be replaced by simple, mechanical monetary rules. This is the doctrine that came to be known as "monetarism."
There is nothing that plays worse in our culture than seeming to be the stodgy defender of old ideas, no matter how true those ideas may be. Luckily, at this point the orthodoxy of the academic economists is very much a minority position among intellectuals in general; one can seem to be a courageous maverick, boldly challenging the powers that be, by reciting the contents of a standard textbook. It has worked for me!
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