Paul Krugman
Biography of Paul Krugman
Full Name and Common Aliases
Full Name: Paul Robin Krugman
Common Aliases: Paul Krugman
Birth and Death Dates
Birth Date: February 28, 1953
Death Date: N/A
Nationality and Profession(s)
Nationality: American
Profession(s): Economist, Professor, Columnist, Author
Early Life and Background
Paul Robin Krugman was born on February 28, 1953, in Albany, New York. Raised in a middle-class Jewish family, Krugman developed an early interest in economics and the social sciences. His parents, Anita and David Krugman, encouraged his academic pursuits, fostering an environment where intellectual curiosity was highly valued. Krugman attended John F. Kennedy High School in Bellmore, New York, where he excelled in his studies, particularly in mathematics and science.
Krugman's academic journey led him to Yale University, where he graduated summa cum laude with a Bachelor of Arts in economics in 1974. He continued his education at the Massachusetts Institute of Technology (MIT), earning a Ph.D. in economics in 1977. Under the mentorship of renowned economists such as Rudi Dornbusch and Robert Solow, Krugman honed his analytical skills and developed a keen interest in international trade and finance.
Major Accomplishments
Paul Krugman's career is marked by numerous accomplishments that have significantly influenced the field of economics. In 2008, he was awarded the Nobel Memorial Prize in Economic Sciences for his groundbreaking work on New Trade Theory and New Economic Geography. His research provided insights into the effects of economies of scale and consumer preferences on international trade patterns, challenging traditional economic models and offering a more nuanced understanding of global trade dynamics.
Krugman's academic contributions extend beyond his Nobel-winning research. He has held prestigious teaching positions at several leading institutions, including MIT, Stanford University, and Princeton University, where he served as a professor of economics and international affairs. His work as an educator has inspired countless students and budding economists, many of whom have gone on to make significant contributions to the field.
Notable Works or Actions
Paul Krugman is a prolific author, having written or co-authored over 20 books and numerous scholarly articles. His notable works include "The Return of Depression Economics and the Crisis of 2008," "The Conscience of a Liberal," and "End This Depression Now!" These publications reflect his deep understanding of economic theory and his ability to communicate complex ideas to a broad audience.
In addition to his academic writing, Krugman is widely recognized for his role as a columnist for The New York Times. Since 1999, his op-eds have provided incisive commentary on economic policy, political issues, and social justice, often challenging prevailing economic orthodoxy and advocating for progressive solutions to contemporary problems.
Impact and Legacy
Paul Krugman's impact on the field of economics and public discourse is profound. His research has reshaped the understanding of international trade and economic geography, influencing both academic thought and policy-making. As a public intellectual, Krugman has used his platform to advocate for policies that address income inequality, healthcare reform, and climate change, among other pressing issues.
Krugman's legacy is also evident in his role as a mentor and educator. His ability to distill complex economic concepts into accessible language has inspired a generation of economists and informed public debate on critical economic issues. His contributions to economic theory and policy continue to resonate, shaping discussions on globalization, fiscal policy, and economic inequality.
Why They Are Widely Quoted or Remembered
Paul Krugman is widely quoted and remembered for his incisive analysis, eloquent writing, and unwavering commitment to social justice. His ability to bridge the gap between academic economics and public discourse has made him a trusted voice on economic matters. Krugman's critiques of economic policy and his advocacy for progressive solutions have earned him both admiration and criticism, reflecting the impact of his ideas on contemporary economic thought.
Krugman's quotes often encapsulate complex economic principles in a manner that is both insightful and accessible, making them valuable resources for understanding the intricacies of economic policy and its implications for society. His legacy as a thought leader and public intellectual ensures that his words will continue to inspire and inform future generations.
Quotes by Paul Krugman
Paul Krugman's insights on:
There’s nothing magic about spending on tanks and bombs rather than roads and bridges.
America’s political landscape is infested with many zombie ideas – beliefs about policy that have been repeatedly refuted with evidence and analysis but refuse to die. The most prominent zombie is the insistence that low taxes on rich people are the key to prosperity.
Outrageous fiscal mendacity is neither historically normal nor bipartisan. It’s a modern Republican thing.
Middle-class societies don’t emerge automatically as an economy matures, they have to be CREATED through political action.
And that’s just the beginning. More and more, conventional wisdom says that the responsible thing is to make the unemployed suffer. And while the benefits from inflicting pain are an illusion, the pain itself will be all too real.
What saved the economy, and the New Deal was the enormous public-works project known as World War II, which finally provided a fiscal stimulus adequate to the economy’s needs.
And I’m with Alan Greenspan, who – surprisingly, given his libertarian roots – has repeatedly warned that growing inequality poses a threat to “democratic society.” It may take some time before we muster the political will to counter that threat. But the first step toward doing something about inequality is to abandon the 80–20 fallacy. It’s time to face up to the fact that rising inequality is driven by the giant income gains of a tiny elite, not the modest gains of college graduates.
Are you, or is someone you know, a gadget freak? If so, you doubtless know that Wednesday was iPhone 5 day, the day Apple unveiled its latest way for people to avoid actually speaking to or even looking at whoever they’re with.
We should try to create the society each of us would want if we didn’t know in advance who we’d be.
Surely I’m not the only person to ask the obvious question: How different, really, is Mr. Madoff’s tale from the story of the investment industry as a whole?