Politics determines who has the power, not who has the truth.
Paul KrugmanRead
The raw fact is that every successful example of economic development this past century ... has taken place via globalization.
Interpretation
What this quote means
Globalization has been key to successful economic development in the last century.
Paul Krugman's quote emphasizes the significance of globalization as a crucial factor in the economic growth and development witnessed throughout the past century. It suggests that the interconnectedness of economies has propelled progress and prosperity, highlighting the importance of global trade and exchange in fostering successful economic outcomes.
Themes
GlobalizationEconomic DevelopmentProsperityTradeInterconnectedness
In practice
Example use cases
In a discussion on international trade policies, one could use this quote to highlight the benefits of globalization.
More from Paul Krugman
All quotes →Our popular economics writers, however, are not in the business of giving their readers a ringside seat on the research action; with no exception I can think of, they use their books to do an end run around the normal structure of scholarship, to preach ideas that few serious economists share. Often, these ideas are not just at odds with the professional consensus; they are demonstrably wrong, and sometimes terminally silly. But they sound good to the unwary reader.
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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.
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It’s not about the budget; it’s about the power...So will the attack on unions succeed? I don’t know. But anyone who cares about retaining government of the people by the people should hope that it doesn’t.
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The economics profession went astray because economists, as a group, mistook beauty, clad in impressive-looking mathematics, for truth.
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The goal in the end is not to win elections. The goal is to change society.
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