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Economist Leaves for Princeton

By Matthew Palmer


Renowned economics Professor Paul R. Krugman PhD ’77 will leave MIT to become a professor at Princeton University next fall.

Economics Department Head Olivier J. Blanchard ’41 confirmed that Krugman will leave the Institute, but he will remain at MIT until the end of the academic year.

“He’s one of the most brilliant economists alive,” Blanchard said. “Of course he will be missed.”

Krugman, a Ford International Professor of Economics, had served as a visiting professor at Princeton during the first term of this year.

Krugman accomplished author, award winner

Krugman is the author or editor of 16 books and over 200 articles, mainly on the topics of international trade and finance. His works include Peddling Prosperity and Pop Internationalism.

He is widely known for helping to found the “new trade theory” of international commerce. The work earned Krugman the John Bates Clark Medal in 1991. The award is given by the American Economic Association every two years to an exceptional economist under 40.

Krugman also writes a weekly opinion column for The New York Times, and his articles have appeared in Fortune and Slate magazines.

After receiving his PhD from MIT in 1977, Krugman worked at Yale and Stanford, as well as the Institute.

On leave from MIT, Krugman worked in the White House as a member of the Council of Economic Advisors in 1982-1983.

Economic views controversial

The New York Times, which has referred to Krugman as “a shoo-in for a future Nobel Prize,” outlined some of his economic views. He favors strong unions, education to improve workers’ skills, and government redistribution of income to reduce inequality.

Krugman came under fire for some of his views, including his theory that the global economy only has a limited effect on the U.S.

“If an op-ed or column does not greatly upset a substantial number of people, the author has wasted the space,” Krugman said on his web site.

Blanchard said, “That’s his strength -- to express strong views.”

Krugman was unavailable for comment.