|Author: Paul Krugman|
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Professor Paul Krugman has two careers, and is influential in both. In his role as economist, he researches and writes on the theory of international trade; as a popular columnist--for Fortune, Slate, and the New York Times--he has written with insight and passion on current events, and has often brought the same clarity to that as to his more formal research.||As a young man growing up on Long Island in the '50s and early '60s, Krugman enjoyed science fiction, especially Isaac Asimov's Foundation trilogy. He wanted to be a psychohistorian, but, he writes, "unfortunately there's no such thing." Krugman got his Ph.D. from MIT in 1977, taught at Yale University , and moved to Washington to work for the Council of Economic Advisors in the Reagan administration. He was philosophically at odds with many of his conservative colleagues, but it was there that he learned everything, good and bad, that there was to know about policymaking. ||Krugman left Washington to spend the '80s doing serious research, writing papers, and preparing a textbook called THE AGE OF DIMINISHED EXPECTATIONS, basically a primer on economics. In 1991, Krugman was awarded the prestigious John Bates Clark Medal for his contributions to economic thought. A frequent outsider, Krugman was, in the '90s, on the outs with the Clinton administration--payback, it is said, for having criticized Robert Reich years earlier. In Krugman's view, the administration was run by pop economists. ||By then, Krugman was beginning to maker a name for himself as a writer of articles that explained the world in economic terms that could be understood by the generally educated person. He was also getting a reputation as a provocative and challenging debunker of establishment theories. He was named a New York Times columnist and his twice-weekly column was a must-watch for pointing out the failures of the George W. Bush administration. His book CONSCIENCE OF A LIBERAL, became a best seller. In 2008, Krugman was awarded the Nobel Prize in Economics "for his analysis of trade patterns and location of economic activity."