Paul Krugman

Paul Krugman
Name	Paul Krugman
Caption	Krugman in 2014
Birth date	28 February 1953
Birth place	Albany, New York, U.S.
Nationality	American
Field	Macroeconomics, International economics
Institution	City University of New York, Princeton University, Massachusetts Institute of Technology, London School of Economics
Alma mater	Yale University (BA), Massachusetts Institute of Technology (PhD)
Influences	John Maynard Keynes, Paul Samuelson, Ragnar Nurkse
Doctoral advisor	Rudiger Dornbusch
Notable works	The Age of Diminished Expectations, Peddling Prosperity, The Conscience of a Liberal
Awards	John Bates Clark Medal (1991), Nobel Memorial Prize in Economic Sciences (2008), Princess of Asturias Award (2004)

Paul Krugman is an American economist, public intellectual, and columnist, renowned for his foundational work in international trade theory and economic geography. Awarded the Nobel Memorial Prize in Economic Sciences in 2008, his research on economies of scale and patterns of trade transformed the field. He is also a prominent political commentator, authoring a long-running column for The New York Times and authoring numerous books on economic policy and politics.

Early life and education

He was born in Albany, New York, and grew up on Long Island, showing an early interest in history and psychology. He pursued his undergraduate studies at Yale University, graduating with a Bachelor of Arts in economics in 1974. His doctoral studies were completed at the Massachusetts Institute of Technology under the supervision of Rudiger Dornbusch, earning his PhD in 1977. His dissertation work laid the groundwork for his later influential models in international economics.

Academic career

Following his doctorate, he held positions at Yale University, the Massachusetts Institute of Technology, and the London School of Economics. In 2000, he joined the faculty of Princeton University as a professor of economics and international affairs. He also served as a centenary professor at the London School of Economics. In 2015, he joined the Graduate Center of the City University of New York as a distinguished professor. Throughout his career, he has been a research associate at the National Bureau of Economic Research.

Contributions to economics

His most celebrated academic contribution is the development of New Trade Theory, which introduced economies of scale and monopolistic competition to explain patterns of international trade, work for which he later received the Nobel Memorial Prize in Economic Sciences. Alongside Anthony Venables and Masahisa Fujita, he pioneered New Economic Geography, modeling how economic agglomeration and transportation costs shape the spatial distribution of economic activity. He has also made significant analyses of currency crises, notably developing a model of balance of payments crises with Maurice Obstfeld.

Public policy and political commentary

He began writing for a broader public in the 1990s with columns for Slate and Fortune before joining The New York Times as an op-ed columnist in 2000. His columns frequently critique Republican policies, advocate for Keynesian stimulus, and warn against austerity, particularly following the financial crisis of 2007–2008. He is a vocal supporter of universal health care and has been a persistent critic of the Bush tax cuts and the Trump administration. His popular books, such as The Conscience of a Liberal and Arguing with Zombies, distill his policy arguments.

Awards and honors

In 1991, he was awarded the John Bates Clark Medal, given to the most promising American economist under forty. He received the Nobel Memorial Prize in Economic Sciences in 2008 for his analysis of trade patterns and location of economic activity. Other recognitions include the Adam Smith Award from the National Association for Business Economics and the Princess of Asturias Award for Social Sciences. He is a fellow of the Econometric Society and the American Academy of Arts and Sciences.

Personal life

He is married to Robin Wells, an academic economist and co-author on several of his textbooks and articles. The couple resides in New York City and has no children. An avid reader of science fiction, he has cited authors like Isaac Asimov and Frank Herbert as early influences. He has been open about his diagnosis of dysthymia, a chronic form of depression.

Category:American economists Category:Nobel laureates in Economics Category:American columnists Category:Princeton University faculty Category:City University of New York faculty