Dr. Paul Robin Krugman is an American economist, bestselling author, and professor. He was awarded the Nobel Prize in 2008 for Economics. Dr. Krugman is an international economics that experience’s in finance, trade theory, and economic geography. This paper is a short summary of his life.
Dr. Paul Krugman is an amazing American economist, Best Selling Author, and Professor. He was awarded by the American Economic Association the John Bates Clark Medal in 1991 and was awarded the Nobel Prize in Economic, in 2008. Krugman loves his work in international economics and economic geography, but he was known for his works like International Trade Theory and the New Trade Theory. Biography
Paul R. Krugman was born in Albany, New York in February 28, 1953. Paul Krugman was the only child to David and Anita Krugman. David Krugman worked as an insurance industry manager. David and Anita Krugman have been married for over 50 years. Paul graduated from John F. Kennedy High School in Bellmore. Paul Krugman Received his Bachelors of Arts degree from Yale University in 1974. Paul continues to Massachusetts Institute of Technology to receive a Doctorates degree of Philosophy in 1977. Krugman and a group of MIT graduates went to Lisbon Portugal for the summer to work with the Central Bank of Portugal in 1976, after of the Carnation Revolution were over. In 1996 Paul Krugman Married Robin Wells, his second wife. Robin Wells a Yoga instructor and Professor at Princeton University. Paul and Robin Krugman have no children and live and teach at Princeton University to this day.
Prior to starting his occupation at Princeton, Krugman was part of the faculty of Massachusetts Institute Technology from 1984-1994 and again from 1996-2000; his last place of employment was Ford International as a Professor of Economics. He has also taught at Yale and Stanford University’s from 1994-1996. Krugman also worked one year at the under Ronald Reagan at the White House as a member of the Council of Economic Advisers (CEA) in 1982-1983.
Krugman also served as one of the advisers for Enron on economic and political issues 1999. In the fall of 1999 he resigned to work for The New York Times. Two years later when the Enron scandals broke out Krugman was accused of unethical journalism. It all started when Krugman wrote an article for Fortune Magazine about the market and Enron energy trading called the “The Ascent of E-man”
New Trade Theory Krugman received the Nobel Prize for his work on the New Trade Theory, his analysis of international trade in 2008. The New Trade Theory is a collection of economic models in international trade that increases the returns to patterns and locations of economic activity. The Trade theory was developed in early 1980’s. Krugman helps the important to the United States economy by explaining why countries with a large domestic market for a product develop a comparative disadvantage in that product. This will help them become the leading export of a serein product to other countries. With leads to a second theory that says the areas that have large domestic markets and exports will be more profitable and attract even more production.
This is why product is only shipped to large countries and the cities within the countries become populated, attracting workers and consumers. Doing this make the countries more successful. The first published journal was The Journal of International Economics Association, on the New Trade Theory in 1979. His general opinions are on the work in international trade. He is a founder of the "New Trade Theory," in 1991 the American Economic Association awarded Paul Krugman the John Bates Clark medal for the time and effort he has put into revamping the theory of international trade. The John Bates Clark Medal is only given every two years to "that economist under forty who is adjudged to have made a significant contribution to economic knowledge." Mr. Krugman is currently focusing on economic and currency crises. Writing
Paul Krugman always has been writing. He has written several columns for newspapers and magazines. Krugman has a blog called the “The Conscience of a liberal” it is one of the most quoted and widely referred to blogs in the econoblogosphere. Just for an example he discusses the bank crisis that would spread across borders and very rapidly across oceans. Most of his most recent articles on economic issues were published in Foreign Affairs, Harvard Business Review, and Scientific American. In 1999, Krugman works at the New York Times as a columnist on the Op-Rd Page.
Krugman not once but twice spoke of how the economy experiencing in a depression. Once in his book he wrote in 2008 “The return of depression Economics” and again in his column for The New York Times. He states “We are already, however, well into the realm of what I call depression economics. By that I mean a state of affairs like that of the 1930’s in which the usual tools of economic policy above all, the Federal Reserve’s ability to pump up the economy by cutting interest rates- have lost all traction. When depression economics prevails, the usual rules of economic policy no longer apply: virtue becomes vice, caution is risky and prudence is folly (2008).”
Paul Krugman is the author of 27 Academic and Economic textbooks and nine general books. Paul Krugman published many of superior books about, but three of his books went on the bestsellers list 'The Great Unraveling', the 'Conscience of a Liberal' and a collection of his columns. His other major books are 'Microeconomics' and 'The Return of Depression Economics'.
Paul Krugman is one of the most appreciated economist of today. He is among the top 15 best economists in the world, according to the Economist Rankings at IDEAS.