Paul Krugman is a renowned American economist lauded for his work on international trade theories, economic geography and global finance. A man of a number of professions, he also teaches economics and international affairs at Princeton University and is a regular op-ed columnist for the New York Times.
After earning his Bachelor’s degree and PhD from Yale University and the Massachusetts Institute of Technology, Krugman didn’t waste any time in pursuing his interest that was economics. He proposed a variety of theories to his then mentor Rudi Dornbusch, a man he credits a great deal for encouraging him to follow his interests in addition to nurturing them. This was followed by his first essay, ‘The Theory of Interstellar Trade’, and by 1979 he had joined the MIT in the capacity of a faculty member.
In the following years, Krugman’s endeavors took him through working at the Reagan White House, as well as teaching jobs at Yale University, Stanford University as well as the London School of Economics. It was only until the year 2000 that he landed a professor’s title at Princeton University, a feat soon followed by induction in to the Group of Thirty international economic body and presidency of the Eastern Economic Association in 2010.
Krugman also has vast experience in the realm of journalism as he has written and published work on a variety of economic subjects. He has to date participated in over 750 columns across print media organizations such as The New York Times, Fortune and Slate. Krugman’s written portfolio also boasts 20 books and over 200 academic articles across journals, magazines and newspapers; most notably in Foreign Affairs, Harvard Business Review, Scientific American, Pop Internationalism and The Accidental Theorist. His published work on the ‘new trade theory’ drew wide universal acclaim and he is to date credited as one of the esteemed originators of this school of thought. The new trade theory managed to transform the way the workings of international finance and trade were perceived and analyzed. This revolutionary notion eventually landed Krugman the John Bates Clark medal in 1991, an honor bestowed by the American Economic Association to relatively young, aspiring economists who propose exceptional concepts which enhance the state of knowledge in the field of economics.
One of Krugman’s finest achievements was realized when he won the Nobel Memorial Prize in Economic Sciences in 2008 for his work on the New Trade theory as well as his proposal of the then current state of economic geography, the New Economic Geography as he called it. Key concepts and theories highlighted in these theories were those consumer choices and selection, economies of scale, global exchange of goods and services as well as the international distribution of wealth.
Clearly no short of accomplishments, Krugman’s other honors include the title of the Ford International Professor of Economics during his time at MIT. He was also acknowledged by the King of Spain when receiving the Asturias Award, better known as the European Pulitzer Prize. His expertise has been recognized across all entities of knowledge, including the National Bureau of Economic Research, where he has served as a research associate since 1979. Krugman has also made a name for himself as a commentator, expressing opinions on a multitude of economic and political topics which he proclaims to be very liberal. For these reasons Krugman is hailed as one of the finest economists produced by the United States, let alone his generation. His groundbreaking research and theories have seen his reputation enhanced to that of an influential thinker and academic, one of the best of his kind.
Books by Paul Krugman
