Paul Krugman Says Fix the Jobs

This is part of the series highlighting supporters of pro-jobs policies. An updated list of supporters can be found here.

Paul Krugman has been an ardent supporter of strong policies to fix the economy since the beginning of the recession arguing for strong government intervention in the economy by spending more instead of implementing austerity measures while the economy is weak. His stance on fiscal policy can be seen in the multiple posts on his New York Times blog and in his 2012 book titled End This Depression Now!

In an interview with Rolling Stone, about his book, he specifically advocates for the government to spend more on “On debt relief for struggling homeowners; on infrastructure projects; on aid to states and localities; on safety-net programs.” Some of these solutions (debt relief of homeowners, aid to states and localities) may not be as effective as we are now 2 years out from that interview but he continues to believe that more can be done to help raise workforce participation and lower the unemployment rate.

More recently, Paul Krugman has been advocating for the Federal Reserve to wait on tightening monetary policy until wages show solid growth, which he defines are being “at least back to pre-crisis levels.” He believes that waiting for wages to rise will allow for more correction in the employment market where long-term unemployment is too high and labor participation is low.

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