A Quote by Paul Krugman

Economics is not a morality play. — © Paul Krugman
Economics is not a morality play.
Where there is politics or economics, there is no morality.
In a world where profit is consistently put before both people and the planet, climate economics has everything to do with ethics and morality.
Interestingly, human irrationality is a hot topic in economics at the moment. Behavioural economics it's called, on the cusp of economics and psychology.
...idea at play here is that of “morality.” When young women are taught about morality, there’s not often talk of compassion, kindness, courage, or integrity. There is, however, a lot of talk about hymens
I love the gallery, the arena of representation. It's a commercial world, and morality is based generally around economics, and that's taking place in the art gallery.
I started in the law; and the study of law, when it precedes the study of economics, gives you a set of foundation principles about how human beings interact. Economics is very useful, and I studied economics in graduate school. But without understanding the social and organizational context of economics, it becomes a theory without any groundwork.
Economics profession, they've been - they've been confident in various formulas, but economics is not physics. The same formula that works in one decade doesn't work in the next. Economics is a difficult subject.
How can you construct a morality if there's no morality inherent in the way things are? You might be able to delude yourself into thinking you had 'created' a morality, but that's all it would be, an illusion.
Buzzing at the Sill is from a Theodore Roethke poem called "In a Dark Time." I'd heard a small part of it in a play, a sort of sci-fi play about morality in a virtual reality universe. Nothing to do with the book precisely, but it was a great play.
When the word 'morality' comes up in connection with economics, income distribution and financial stability are usually the issues. Is it moral for rich countries to use such a high proportion of the world's resources or for investment bankers to earn large bonuses?
If people are teaching economics, they need to teach all the different disciplines, all the different schools in economics. They can't just teach one because then the person isn't equipped to deal with the economics profession.
To justify Christian morality because it provides a foundation of morality, instead of showing the necessity of Christian morality from the truth of Christianity, is a very dangerous inversion.
Morality, it could be argued, represents the way that people would like the world to work, wheareas economics represents how it actually does work.
My mother and my father taught me to look at the actual problem, not the face of it, not the veneer of it. So for me, I was never - I was impressed that it - racially, I was impressed, right, but now in America it's about economics, and it's been about economics, and honestly, everything's been about economics since I don't want to say the beginning of time, but it's been about economics for a long while.
I do not believe there is a natural resource economics. I believe there is good economics and bad economics.
How should the best parts of psychology and economics interrelate in an enlightened economist's mind?... I think that these behavioral economics...or economists are probably the ones that are bending them in the correct direction. I don't think it's going to be that hard to bend economics a little to accommodate what's right in psychology.
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