Paul Krugman
New Keynesian economics
Birth February 28, 1953
Nationality  United States
Institution Princeton University
Field Macroeconomics
Alma mater MIT
Yale University
Influences John Maynard Keynes
Jagdish Bhagwati
Influenced Marc Melitz
Contributions International Trade Theory
New Trade Theory
Awards John Bates Clark Medal
Nobel Memorial Prize in Economics
Information at IDEAS/RePEc

Paul Robin Krugman " class="IPA">/ˈkruːɡmən/) is an American economist, liberal columnist, and author. In 2008, Krugman won the Nobel Memorial Prize in Economics for his contributions to New Trade Theory and New Economic Geography. The Nobel Prize Committee stated that Krugman's main contribution had been to analyze the impact of economies of scale, combined with the assumption that consumers appreciate diversity, on international trade and on the location of economic activity. He is Professor of Economics and International Affairs at Woodrow Wilson School of Public and International Affairs, Princeton University, Centenary Professor at the London School of Economics, and op-ed columnist for The New York Times.

Krugman is known in academia for his work in international economics, including trade theory, economic geography, and international finance. He is among the most influential economists in the world according to IDEAS/RePEc. Prior to Krugman's work, trade theory emphasized trade based on the comparative advantage of countries with very different characteristics, such as a poor country exporting agricultural goods to a rich country in exchange for industrial products. However, in the 20th century, an ever larger share of trade occurred between countries with very similar characteristics, which is difficult to explain by comparative advantage. Krugman's explanation assumes that consumers prefer a diverse choice of brands, and that production favors economies of scale. Consumers' preference for diversity explains the survival of different versions of cars like Volvo and BMW, while economies of scale explain the concentration of production facilities. In later work, Krugman introduced transport costs, which encourages production to be sited near consumers.

As of 2006, Krugman had written or edited in excess of 25 books, over 40 scholarly articles and 750 columns at The New York Times dealing with current economic and political issues. Krugman's International Economics: Theory and Policy, co-authored with Maurice Obstfeld is a standard introductory textbook on international economics. He also writes on political and economic topics for the general public, as well as on topics ranging from income distribution to international economics. Krugman considers himself a liberal, calling one of his books and his New York Times blog "The Conscience of a Liberal".

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