Quotes of the Day

Wednesday, Jun. 30, 2010

Open quoteWe are now, I fear, in the early stages of a third depression...and this third depression will be primarily a failure of policy.Close quote

  • Princeton economist and New York Times op—ed columnist, on his theory that spending cuts by the world's richest nations will hurt the world economy rather than improve it
Photo: Heribert Proepper / AP