Biography paul krugman nobelova nagrada

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Thinkers50 Limited has updated its Privacy Policy on 28 March with several amendments and additions to the previous version, to fully incorporate to the text information required by current applicable date protection regulation. Sign up for newsletter. View cart. Search Search. Search Close this search box. Paul Krugman. He also writes on political and economic topics for the general public and has spoken on a wide range of issues, from income distribution to international economics.

Kennedy High School in Bellmore. He is currently married to Robin Wells, a yoga instructor and economist who has collaborated with him on textbooks. This is his second marriage. Krugman has also mentioned his distant relation to conservative journalist David Frum. Krugman's interest in economics began with Isaac Asimov's "Foundation" series, in which future scientists used the fictional science of psychohistory to save civilization.

As psychohistory did not exist in the way Asimov portrayed it, Krugman turned to economics, which he considered the second-best social science. At the time, it was considered likely that Clinton would offer him a position in the new administration, but allegedly Krugman's volatility and outspokenness caused Clinton to look elsewhere.

You have to be very good at people skills, biting your tongue when people say silly things.

Biography paul krugman nobelova nagrada

I can move into a pristine office and within three days it will look like a grenade went off. Innear the height of the dot com boomThe New York Times approached Krugman to write a bi-weekly column on "the vagaries of business and economics in an age of prosperity". Bush 's policy proposals. According to Krugman, this was partly due to "the silence of the media — those 'liberal media' conservatives complain about As Alan Blinder put it in"There's been a kind of missionary quality to his writing since then He's trying to stop something now, using the power of the pen.

When I argue with them in my column this is a serious discussion. We really are in effect speaking across the transom here. So that's where I'm pushing. Krugman's columns have drawn criticism as well as praise. A article in The Economist [ ] questioned Krugman's "growing tendency to attribute all the world's ills to George Bush ", citing critics who felt that "his relentless partisanship is getting in the way of his argument" and claiming errors of economic and political reasoning in his columns.

His column provoked an angry response and The New York Times was flooded with complaints. President George W. Bush and former New York City mayor Rudy Giuliani of rushing "to cash in on the horror" after the attacks and describing the anniversary as "an occasion for shame". Krugman was noteworthy for his opposition to the presidential campaign of Bernie Sanders.

On January 19,he wrote an biography paul krugman nobelova nagrada which criticized Bernie Sanders for his perceived lack of political realism, compared Sanders' plans for healthcare and financial reform unfavorably to those of Hillary Clintonand cited criticisms of Sanders from other liberal policy wonks like Mike Konczal and Ezra Klein.

Krugman's use of the term leprechaun to refer to Ireland and its people has raised rebuke. Krugman harshly criticized the Trump administration. In Januaryspeaking on his departure from the New York Times the previous month, Krugman reported that "the editing became extremely intrusive. In a Foreign Affairs article, Paul Krugman argued that it was a myth that the economic successes of the East Asian 'tigers' constituted an economic miracle.

He argued that their rise was fueled by mobilizing resources and that their growth rates would inevitably slow. Krugman argued that in the long term, only increasing total factor productivity can lead to sustained economic growth. Krugman's article was highly criticized in many Asian countries when it first appeared, and subsequent studies disputed some of Krugman's conclusions.

However, it also stimulated a great deal of research, and may have caused the Singapore government to provide incentives for technological progress. During the Asian financial crisisKrugman advocated currency controls as a way to mitigate the crisis. Writing in a Fortune magazine article, he suggested exchange controls as "a solution so unfashionable, so stigmatized, that hardly anyone has dared suggest it".

In the early s, Krugman repeatedly criticized the Bush tax cutsboth before and after they were enacted. Krugman argued that the tax cuts enlarged the budget deficit without improving the economy, and that they enriched the wealthy — worsening income distribution in the US. In Augustafter Alan Greenspan expressed concern over housing markets, Krugman criticized Greenspan's earlier reluctance to regulate the mortgage and related financial markets, arguing that "[he's] like a man who suggests leaving the barn door ajar, and then — after the horse is gone — delivers a lecture on the importance of keeping your animals properly locked up.

Krugman points to Greenspan and Gramm for the key roles they played in keeping derivativesfinancial markets, and investment banks unregulated, and to the Gramm-Leach-Bliley Actwhich repealed Great Depression era safeguards that prevented commercial banksinvestment banks and insurance companies from merging. Krugman has also been critical of some of the Obama administration 's economic policies.

He has criticized the Obama stimulus plan as being too small and inadequate given the size of the economy and the banking rescue plan as misdirected; Krugman wrote in The New York Times : "an overwhelming majority [of the American public] believes that the government is spending too much to help large financial institutions. This suggests that the administration's money-for-nothing financial policy will eventually deplete its political capital.

There has to be a significant job proposal Krugman has criticized China's exchange rate policy, which he believes to be a significant drag on global economic recovery from the Lates recessionand he has advocated a "surcharge" on Chinese imports to the US in response. In Aprilas the Senate began considering new financial regulations, Krugman argued that the regulations should not only regulate financial innovation, but also tax financial-industry profits and remuneration.

He cited a paper by Andrei Shleifer and Robert Vishny released the previous week, which concludes that most innovation was in fact about "providing investors with false substitutes for [traditional] assets like bank deposits", and once investors realize the sheer number of securities that are unsafe a "flight to safety" occurs which necessarily biographies paul krugman nobelova nagrada to "financial fragility".

In his June 28,column in The New York Timesin light of the recent G Toronto SummitKrugman criticized world leaders for agreeing to halve deficits by Krugman claimed that these efforts could lead the global economy into the early stages of a "third depression" and leave "millions of lives blighted by the absence of jobs". He advocated instead the continued stimulus of economies to foster greater growth.

Krugman identifies as a Keynesian [ ] [ ] and a saltwater economist[ ] and he has criticized the freshwater school on macroeconomics. During the Great Recessionhe remarked that he is "gravitating towards a Keynes - Fisher - Minsky view of macroeconomics". Their work argues that during a debt-driven slump, the " paradox of toil ", together with the paradox of flexibilitycan exacerbate a liquidity trapreducing demand and employment.

Krugman's support for free trade in the s—s provoked some ire from the anti-globalization movement. He also notes that increasing returns and strategic trade theory do not disprove the underlying truth of comparative advantage. InKrugman criticized the notion of national competitiveness, particularly comparisons of nations as competing corporations.

Krugman noted that a country's economic success does not need to come at the expense of a rival nation, as if they were two competing companies selling similar products. Instead, foreign nations typically serve as export markets for a nation's goods, as well as suppliers of useful imports. InKrugman noted his ambivalence about the proposed Trans-Pacific Partnershipas the agreement was not mainly about trade and, "whatever you may say about the benefits of free trade, most of those benefits have already been realized" [by existing agreements].

After the elections, and Trump's moves towards protectionism, he wrote that while protectionism can make economies less efficient and reduce long-term growth, it would not directly cause recessions. He noted that if there is a trade war, imports would decrease as much as exports, so employment should not be strongly impacted, at least in the medium to long run.

In addition, other countries would take retaliatory measures against US exports. In the late s, Krugman admitted that the models that scholars used to measure the impact of globalization in the s underestimated the effect on jobs and inequality in developed countries such as the US. InKrugman wrote: "[i]mmigration reduces the wages of domestic workers who compete with immigrants.

That's just supply and demand: we're talking about large increases in the number of low-skill workers relative to other inputs into production, so it's inevitable that this means a fall in wages And the past few years, with elevated immigration, have also been an era of exceptional growth in wages for the worst paid. Krugman has called for a transition to a green economy.

On that stuff, don't worry about paying for it. Debt as an issue is vastly overstated, and a lot of these things pay for themselves. Go ahead and just deficit finance it. Krugman describes himself as liberal and has explained that he views the term "liberal" in the American context to mean "more or less what social democratic means in Europe".

He savages the supply-siders of the Reagan—Bush era with the same glee as he biographies paul krugman nobelova nagrada the 'strategic traders' of the Clinton administration. Krugman has at times advocated free markets in contexts where they are often viewed as controversial. He has written against rent control and land-use restrictions in favor of market supply and demand, [ ] [ ] likened the opposition against free trade and globalization to the opposition against evolution via natural selection[ ] opposed farm subsidies[ ] argued that sweatshops are preferable to unemployment, [ 53 ] dismissed the case for living wages[ ] and argued against mandates, subsidies, and tax breaks for ethanol Krugman endorsed Democratic candidate Hillary Clinton in the run-up to the U.

Krugman has criticized the Republican Party leadership for what he sees as a strategic but largely tacit reliance on racial divisions. The changing politics of race made it possible for a revived conservative movement, whose ultimate goal was to reverse the achievements of the New Deal, to win national elections — even though it supported policies that favored the interests of a narrow elite over those of middle- and lower-income Americans.

Krugman worked for Martin Feldstein when the latter was appointed chairman of the Council of Economic Advisers and chief economic advisor to President Ronald Reagan. He later wrote in an autobiographical essay, "It was, in a way, strange for me to be part of the Reagan Administration. I was then and still am an unabashed defender of the welfare statewhich I regard as the most decent social arrangement yet devised.

He did not fit into the Washington political environment and was not tempted to stay on. According to Krugman, Gordon Brown and his party were unfairly blamed for the — financial crisis. Krugman has been a vocal critic of Donald Trump and his administration. Krugman often used his op-ed column in The New York Times to set out arguments against the president's policies.

On election night inKrugman wrongly predicted in a New York Times op-ed that the markets would never recover under Trump and stated "first-pass answer is never" [ ] [ ] but retracted the call in the same publication three days later. Krugman stated "I get a 'fake news award' for a bad market call, retracted 3 days later, from lie man, who still won't admit he lost the popular vote.

He stated that "Russia is even weaker than most people, myself included, seem to have realized", that the military performance of Russia "has been less effective than advertised" in a stalemate at the beginning of the invasion, and that Russia encountered serious logistical problems. Krugman observed that the country's total gross domestic product is only a bit more than half as large as those of countries such as Britain and France, despite Russia's greater landmass, total population and natural resource endowment.

He also noted that Russia's economy was further weakened by international sanctions as a result of the war. He concluded that Russia had "far less real strength than meets the eye. Krugman opposed the invasion of Iraq. If you hear that 'everyone' supports a policy, whether it's a war of choice or fiscal austerity, you should ask whether 'everyone' has been defined to exclude anyone expressing a different opinion.

In during the dot-com bubbleKrugman wrote a commentary for Red Herring that urged skepticism of optimistic predictions for technology-driven progress. He followed it with several pessimistic predictions of his own, including that "[b]y or so, it will become clear that the Internet's impact on the economy has been no greater than the fax machine 's" [ ] [ ] [ ] [ ] and that the number of jobs for IT specialists would decelerate and turn down.

Krugman is a vocal critic of Bitcoin[ ] arguing against its economic soundness since He suggested that such technology would likely prove beneficial "in the long run", but that "in the long run, we are all dead, and even before that, some of us may find ourselves either unemployed or earning far less than we expected". Krugman has been married twice.

His first wife, Robin L. Bergman, is a designer. Together, Krugman and his wife have co-authored several economics textbooks. However, Krugman clarified in his op-ed column for the New York Times that he and his wife do not have any children. Krugman currently lives in New York City. Krugman reports that he is a distant relative of conservative journalist David Frum.

Ordinarily shy. Shy with individuals. Contents move to sidebar hide. David Cameron. Article Talk. Read Edit View history. Tools Tools. Download as PDF Printable version. In other projects. Wikimedia Commons Wikiquote Wikidata item. American economist born For the surname, see Krugman surname. Albany, New YorkU. Robin L. Robin Wells. International economics Macroeconomics.

Tahir R. International trade theory New trade theory New economic geography. Early life and education [ edit ]. Academic career [ edit ]. New trade theory [ edit ]. Main article: New trade theory. New economic geography [ edit ]. Agglomeration and economies of scale [ edit ]. International finance [ edit ]. Macroeconomics and fiscal policy [ edit ].

Basic concepts. Fiscal Monetary Commercial Central bank Universal basic income. Related fields. Econometrics Economic statistics Monetary economics Development economics International economics. Edward C. Sargent Paul Krugman N. Gregory Mankiw. See also. Macroeconomic model Publications in macroeconomics Economics Applied Microeconomics Political economy Mathematical economics.

Nobel Memorial Prize in Economic Sciences [ edit ]. Awards [ edit ]. Author [ edit ]. Commentator [ edit ]. East Asian growth [ edit ]. Economic views [ edit ]. Keynesian economics [ edit ]. Free trade [ edit ]. Immigration [ edit ]. Green economy [ edit ]. Political views [ edit ]. On working in the Reagan administration [ edit ]. On Gordon Brown vs.

David Cameron [ edit ]. On Donald Trump [ edit ]. Foreign policy [ edit ]. Views on technology [ edit ]. Personal life [ edit ]. Published works [ edit ]. Academic books authored or coauthored [ edit ]. Academic books edited or coedited [ edit ]. Economics textbooks [ edit ]. Books for a general audience [ edit ]. He is a leading liberal voice in American policy debate and has been labelled one of the most influential academic thinkers in America.

He was awarded the Nobel Prize for economics in in recognition for his work on international economics. He went to John F. Kennedy High School in Bellmore, before graduating with a B. In the late s, Krugman began working on international trade and a new model of monopolistic competition within trade. Krugman later developed and popularised work on new trade theory.

This field of New Trade theory became one of his areas of expertise and would form the basis for his Nobel Prize. Krugman is generally supportive of free trade and globalisation. Krugman rose to public prominence for his columns in the Slate and New York Times, which were highly critical of the Bush administration. In particular, Krugman criticised the policy of cutting taxes for the rich, leading to budget deficits during growth.