Paul Krugman

Professor, Princeton University

Winner of the 2008 Nobel Prize in Economics.
2011 Gerald Loeb Award winner for Commentary — New York Times.

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Biography

Roosevelt Institute 2013 Four Freedoms Medal: Freedom of Speech

As one of the world’s most leading economists, Paul speaks on the lead issues of the day affecting the world economy. An insightful, outspoken Op-Ed columnist for the New York Times, he is a passionate and articulate speaker, with a gift for relating global economic events to his audiences, and committed to speaking the truth as he sees it in the most compelling terms.

His twice-weekly Op-Ed pieces for The New York Times model the depth of insight and the unflinchingly outspoken style he brings to his speeches.

The most recent of Professor Krugman’s many books, End This Depression Now!, is a call for action. In it, Paul has a powerful message for anyone who has suffered during the Great Recession — a quick, strong recovery is just one step away, if our leaders can find the "intellectual clarity and political will" to end this depression now.

His previous books include The Conscience of a Liberal, The Great Unraveling, a bestseller, and The Return of Depression Economics and the Crisis of 2008, a response to the financial crisis, an updated edition of his 1999 book, The Return of Depression Economics.

In addition to the Nobel Prize, Krugman’s work in economics has earned him broad acclaim from the economic press and several prestigious awards, including the John Bates Clark medal from the American Economic Association for his work in international trade and finance. He is recognized worldwide as a leader in the fields of economic geography and the role of increasing returns in shaping international trade.

Paul Krugman is professor of economics at Princeton University. Over the course of 2014 and 2015 he will move to the Graduate Center at the City University of New York (CUNY), where he will become a Professor of Economics and a distinguished scholar at the Graduate Center’s Luxembourg Income Study Center.

He was chosen as one of Bloomberg’s 10 Most Influential Thinkers, 2013 and Bloomberg's 50 Most Influential People in Global Finance, 2011. He has been honored to be one of Foreign Policy's Top 100 Global Thinkers for four straight years (2009-2012).

Krugman the Economist

Paul Krugman won the 2008 Nobel Memorial Prize in Economic Sciences for his groundbreaking work on international trade and economic geography. (Here is a description in his own words of the work for which he won the Prize.) He is the author or editor of 20 books and more than 200 papers in professional journals and edited volumes. Professor Krugman is one of the founders of the "new trade theory," a major rethinking of the theory of international trade, for which he also received the John Bates Clark medal in 1991 from the American Economic Association, a prize given every two years to "that economist under forty who is adjudged to have made a significant contribution to economic knowledge."

He also is the leading pioneer in economic geography — the economic dynamics that determine how and why certain places (like Silicon Valley) end up specializing economically and the advantages this kind of clustering brings to companies and economies. For example, there has been no important commercial traffic on the Erie Canal since 1850, yet the head start that canal gave to New York City has allowed New York to remain the largest US city and its major commercial center to this day.

The overarching theme to his work: bringing the theory of increasing returns into the economic mainstream. ‘Increasing returns’ is the technical term for the phenomenon that success tends to breed further success—that economics is dynamic, not static, and that the multiple choices available to economies eventually get sorted out through the accumulation of initial advantages that may be accidents of history. He’s applied increasing returns theory to international trade and geographic clustering.

Mr. Krugman's current academic research focuses on economic and currency crises.

Credentials

  • Recipient, Roosevelt Institute 2013 Four Freedoms Medial: Freedom of Speech
  • Winner, 2008 Nobel Memorial Prize in Economics Sciences
  • Professor of Economics, Princeton University
  • Bloomberg’s 50 Most Influential Thinkers, 2013
  • Economic Policy Institute’s first ever Distinguished Economist Award, 2011
  • 2011 Gerald Loeb Award winner for Commentary
  • Bloomberg’s 50 Most Influential People in Global Finance, 2011
  • Foreign Policy’s Top 100 Global Thinkers 2012, 2011, 2010 and 2009
  • 2009 Thinkers 50
  • Recipient, American Economic Association John Bates Clark medal, best American economist under 40
  • Named America’s most important columnist, Washington Monthly
  • Named columnist of the year, Editor and Publisher magazine
  • Staff member, President’s Council of Economic Advisors

Books

End This Depression Now!

Paul Krugman

New York Times Bestseller
A call-to-arms from Nobel Prize–winning economist and best-selling author Paul Krugman.

The Great Recession is more than four years old — and counting. Yet, as Paul Krugman points out in this powerful volley, "Nations rich in resources, talent, and knowledge — all the ingredients for prosperity and a decent standard of living for all — remain in a state of intense pain."

How bad have things gotten? How did we get stuck in what now can only be called a depression? And above all, how do we free ourselves? Krugman pursues these questions with his characteristic lucidity and insight. He has a powerful message for anyone who has suffered over these past four years — a quick, strong recovery is just one step away, if our leaders can find the "intellectual clarity and political will" to end this depression now.

W. W. Norton & Company; 1 edition (April 30, 2012)

Reviews

What Would Keynes Do?The New York Times
Book ReviewChicago Tribune

The Return of Depression Economics and the Crisis of 2008

Paul Krugman

Winner of the Nobel Prize in Economics

In 1999, in The Return of Depression Economics, Paul Krugman surveyed the economic crises that had swept across Asia and Latin America, and pointed out that those crises were a warning for all of us: like diseases that have become resistant to antibiotics, the economic maladies that caused the Great Depression were making a comeback. In the years that followed, as Wall Street boomed and financial wheeler-dealers made vast profits, the international crises of the 1990s faded from memory. But now depression economics has come to America: when the great housing bubble of the mid-2000s burst, the U.S. financial system proved as vulnerable as those of developing countries caught up in earlier crises and a replay of the 1930s seems all too possible.

In this new, greatly updated edition of The Return of Depression Economics, Krugman shows how the failure of regulation to keep pace with an increasingly out-of-control financial system set the United States, and the world as a whole, up for the greatest financial crisis since the 1930s. He also lays out the steps that must be taken to contain the crisis, and turn around a world economy sliding into a deep recession. Brilliantly crafted in Krugman's trademark style — lucid, lively, and supremely informed — this new edition of The Return of Depression Economics will become an instant cornerstone of the debate over how to respond to the crisis.

W. W. Norton (December 1, 2008)

The Conscience of a Liberal

Paul Krugman

This wholly original new work by the best-selling author of The Great Unraveling challenges America to reclaim the values that made it great.

With this major new volume, Paul Krugman, "the heir apparent to Galbraith" (Alan Blinder) and, today's most widely read economist, studies the past eighty years of American history, from the reforms that tamed the harsh inequality of the Gilded Age to the unraveling of that achievement and the reemergence of immense economic and political inequality since the 1970s. Seeking to understand both what happened to middle-class America and what it will take to achieve a "new New Deal," Krugman has created his finest book to date, a work that weaves together a nuanced account of three generations of history with sharp political, social, and economic analysis. This book, written with Krugman's trademark ability to explain complex issues simply, will transform the debate about American social policy in much the same way as did John Kenneth Galbraith's deeply influential book, The Affluent Society.

W.W. Norton (October 15, 2007)

Review

Book ReviewDaily Kos

The Great Unraveling

Losing Your Way in the New Century

Paul Krugman

This national bestseller from one of our most important political commentators chronicles the dangers of an administration that has raised dishonesty to dizzying heights. Award-winning economist Paul Krugman exposes the devastating facts that speak for themselves. From identifying the flaws in George W. Bush's economic plans to telling the story behind California's energy crisis, to revealing the administration's reasons for going to war in Iraq, Krugman offers compelling justification for his criticisms and sets the first years of the twenty-first century in a stark new light. This up-to-date edition includes a new introduction and other material that reflect the events of 2004.

W. W. Norton & Company (August 2004)

The Return of Depression Economics

Paul Krugman

Surely the Great Depression could not happen again; our economists and policy makers simply have too many tools in their kit and too much experience applying them. Or could it? First it was Asia, in July 1997, when a series of event led to the collapse of six economies including Japan. Then came the failure of the Russian economy, followed by the Federal Reserve Board's bailout here in the United States of the over-leveraged Long Term Capital Management Corporation. In early 1999 it was Brazil's turn, with its own currency crisis. In the 1930s policy makers realized that they had to limit the free market in order to save it. Today, when governments worldwide have spent decades lifting regulatory restraints on trade within and across their borders, interference in markets is completely out of favor as a policy tool. With his usual creativity and willingness to consider new ideas, Krugman suggests that a variety of capital restraints may well be in order. This book is for anyone with any level of economic background who wishes to understand the stunning events in today's global economy.

W. W. Norton & Company (May 1999)

The Accidental Theorist

And Other Dispatches from the Dismal Science

Paul Krugman

In this wonderfully cohesive set of sharp and witty essays, Paul Krugman tackles bad economic ideas from across the political spectrum. In plain English, he enlightens us on the Asian crisis, corporate downsizing, and the globalization of the American economy, among other topics. The writing here brilliantly combines the acerbic style and clever analysis that has made Krugman famous. Imagine declaring New York its own country and you get a better picture of our trade balance with China and Hong Kong. Try reducing the economy to the production of hot dogs and buns and you'll understand why common beliefs about the impact of production efficiency on labor demand are wrong. This is a collection that will amuse, provoke, and enlighten, in classic Paul Krugman style.

W. W. Norton & Company; 1 edition (April 1, 1999)

Topics

Paul tailors each presentation to the needs of his audience and is not limited to the topics we have listed below. These are subjects that have proven valuable to customers in the past and are meant only to suggest his range and interests. Please ask us about any subject that interests you; we are sure that we can accommodate you.

The Great Recession

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Global Economic Outlook

Feedback

A conference sponsored by a major international news publication:
Paul Krugman was brilliant, one of the best speakers my client has ever had. Many thanks for your help.

A school of public policy at a major university:
The talk went very well from our perspective. The turnout was awesome, so people occupied every possible perch for sitting in our library. Krugman was very gracious to spend the great majority of the time responding to questions, and he was very engaging, candid, and humorous. The students and faculty LOVED hearing from him, and his visit seemed to revitalize the Policy program. I've adopted quasi-celebrity status here because I made it possible for Krugman to come. So, thanks again for all your help!!

A university audience:
Well, Krugman pulled in the largest audience of this semester and probably almost as large as any audience we have had — somewhere between 1,000 and 1,100. He was amazing, funny, witty, frightening, you name it. He was also totally unassuming.

What really made us pleased is the wide diversity of the audience — lots of students, campus people, and community. It was truly amazing.

A college audience:
It was a big success! The lecture was great and the house was packed. We had to turn away some people but not too many — so a good 1000 people were there for the lecture. Paul was wonderful, as you know, very articulate and amazing. Thanks so much for everything. We are so pleased with his visit!