News!! I am starting up my Princeton web site.
It is at www.wws.princeton.edu/~pkrugman/
It's only partial, but eventually all files will move.
I'm back! My recent move to New Jersey and other pressures
have temporarily prevented me from updating this site. I will now begin
occasional postings, although fewer than before I began writing for the
NY Times. You can still read that column on the day it appears (Sunday
and Wednesday, currently) by going to the opinion
page , and read about 8 back columns on the Times op-ed
archive. Still older columns will be posted on this site soon.
For the latest additions to this site, check out What's
new .
What's new
Articles in Fortune
Articles in Slate
Other writing
Stuff that is harder to read
Additional biographical
info
What I look like
My
honorary degree ceremony in Berlin (text of talk, audio, video)
Special page
on Japan (direct links to Japan-related pieces)
Some favorite
links (updated)
The unofficial
page (A fan has set this up: I disavow any knowledge of his actions)
Welcome to my home page. The main purpose of this page is to give interested parties - students, colleagues, journalists, mad bombers, etc. - easy access to some of my more recent writings. For the time being the links in this page lead for the most part to less-formal writing, mainly for nonprofessional publications. I have started, however, to put some pieces that do contain equations into a new section, "Stuff that is harder to read". (I also maintain a listing, in reverse chronological order, of what's new on this page).
Most people who have accessed this page probably know who I am, but for anyone else here is a summary. (To learn more click here ). I have recently moved from MIT to Princeton . I was born in 1953, got my Ph.D. from MIT in 1977, and have since taught at Yale and Stanford as well as MIT. I also spent an eye-opening year working at the White House (Council of Economic Advisers) in 1982-3. In 1991 I received my major professional gong, the John Bates Clark Medal, given by the American Economic Association every two years to an economist under 40.
I have written or edited 18 books (I think) and several hundred articles. Most of these are about international trade (I helped found the so-called "new trade theory", which is about the consequences of increasing returns and imperfect competition for international trade) and international finance, and are pretty well incomprehensible to laymen. However, since I wrote The Age of Diminished Expectations in 1989, I have increasingly tried to communicate with non-economists through op-eds, magazine articles, and so on. It turns out that people have a hard time tracking all of this stuff down; hence this page. It contains, among other things, links to my two former monthly columns: "No free lunch" in Fortune, and "The dismal science" in the cyberspace magazine Slate. (Slate is free - I highly recommend it). As mentioned above, you can read my New York Times column either on paper or online.
With any luck, you will find many of these pieces extremely annoying. My belief is that if an op-ed or column does not greatly upset a substantial number of people, the author has wasted the space. This is particularly true in economics, where many people have strong views and rather fewer have taken the trouble to think those views through - so that simply insisting on being clear-headed about an issue is usually enough to enrage many if not most of your readers.
But read the articles and judge for yourself.
Articles
Fortune / No Free Lunch
Requiem
for the New Economy (11/10/97)
Seven
Habits of Highly Defective Investors (12/29/97)
Don't
Worry About Deflation (2/2/98)
Asia:
What Went Wrong (3/2/98)
There'll
always be a Soros (3/30/98)
Rupiah
Rasputin (4/13/98) (sidebar for Fortune story on Indonesia)
Who's
afraid of the euro? (4/27/98)
The ice
age cometh (5/25/98)
Supply, demand,
and English food (7/20/98)
Why aren't we
all Keynesians yet? (8/3/98)
Saving
Asia: It's time to get radical (9/7/98)
Soros' plea
(Nov. 1998)
The euro:beware
of what you wish for (Dec. 1998)
I know what the
hedges did last summer (Dec. 1998)
Should
the Fed care about stock bubbles? (Mar. 1, 1999)
THAT CERTAIN
JE NE SAIS QUOI OF LES ANGLOPHONES (April 1999)
The ascent
of e-man (May 1999)
What you
don't think about can't hurt you
Why Germany
Kant Kompete (July 1999)
A self-defeating
prophecy (Dec. 1999)
Slate Magazine/The Dismal Science
Downsizing downsizing
(6/24/96)
How copper came
a cropper (7/15/96)
Supply-side virus
strikes again (8/15/96)
The lost fig
leaf (9/27/96)
Economic culture
wars (10/24/96)
Gold bug variations
(11/22/96)
The CPI and the
rat race (12/21/96)
The accidental
theorist (1/23/97)
Vulgar Keynesians
(2/6/97)
In praise of cheap
labor (3/20/97)
Earth in the balance
sheet (4/17/97)
Rat democracy
(5/15/97)
Unmitigated Gauls
(6/5/97)
The east is in
the red (7/1/97)
Bahtulism (8/14/97)
Who's buying
whom? (9/25/97)
The power of
biobabble (10/23/97)
A raspberry for
free trade (11/20/97)
Speed trap(12/18/97)
The legend of
Arthur (1/14/98)
Entertainment
values (1/22/98)
Krugman's
Life of Brian (A Symposium) (1/30/98) (because it contains letters
from other people, this requires a subscription to Slate - try it,
you'll like it)
Algorithms
(2/12/98)
Paradigms of panic
(3/12/98)
The $300,000 man
(4/11/98)
Soft microeconomicsThe
squishy case against you-know-who (4/23/98)
Glenn Loury's Round
Trip The odyssey of a black intellectual
Setting sunJapan:
What went wrong? (6/11/98)
Size does
matterIn defense of macroeconomics (7/9/98) (requires Slate
subscription)
Baby-sitting
the economy (8/13/98) (requires Slate subscription)
The other
bear market (9/10/98) (requires Slate subscription)
Rashomon
in Connecticut
Is the economic
crisis a crisis for economics ? (11/12/98)
The hangover
theory (12/3/98)
No
pain, no gain? (1/14/99)
Morning
in Japan? (3/11/99)
Monomoney
mania (4/15/99)
Thinking
outside the box office (5/12/99)
When
good things happen to bad ideas (6/9/99)
Don't
laugh at me, Argentina (7/20/99)
Talking
about a revolution (8/19/99)
Capital
control freaks (9/28/99)
O Canada
(the latest Nobel prize)
Tiger's
tale
Enemies
of the WTO
Other Writings
"White collars
turn blue" The New York Times Magazine, 9/29/96
An exchange with Jude
Wanniski (from Mother Jones backtalk)
" Ricardo's difficult
idea " (paper for Manchester conference on free trade, March 1996)
" What economists
can learn from evolutionary theorists " (a talk to the EAEPE, Nov.
1996)
" Against the tide:
an intellectual history of free trade " (book review)
" What should trade
negotiators negotiate about? " (review essay in Journal of Economic
Literature, March 1997)
" Seeking the
rule of the waves " (book review, Foreign Affairs, June 1997)
" One world,
ready or not " (book review, The Washington Post)
" What is wrong
with Japan? " (Nihon Keizai Shimbun)
" How fast can
the U.S. economy grow? " (Harvard Business Review, Summer 1997)
" Capitalism's
mysterious triumph " (Nihon Keizai Shimbun)
" Is capitalism
too productive? " (Foreign Affairs, Sept./Oct. 1997)
" What ever happened
to the Asian miracle? " (Fortune, Aug. 18, 1997)
" Currency crises
" (prepared for NBER conference, October 1997)
" Two cheers for
formalism " (forthcoming in Economic Journal)
" The Mercedes
menace " (USA Today, Jan. 13, 1998)
" The trouble with
history " (Washington Monthly, March 1998)
" Will Asia bounce
back? " (speech to be given in Hong Kong, March 1998)
"Start taking the
Prozac " (Financial Times, April 9, 1998)
" I told
you so " (New York Times Magazine, May 5, 1998)
" The myth of Asia's
miracle " (the Nov. 1994 Foreign Affairs article - by popular demand)
" Future
imperfect " (The Red Herring, June 1998)
America the Boastful
(Foreign Affairs, May 1998)
The Great Betrayal
(Washington Post - review of Patrick Buchanan)
A bridge to nowhere?
(Shizuoka Shimbun, 7/14/98)
False Dawn : The
Delusions of Global Capitalism (book review, New Statesman)
No time for losers
(New York Times Magazine, 7/26/98)
Viagra and the
wealth of nations (New York Times Magazine, 8/23/98)
Don't panic - yet
(New York Times, 8/30/98)
An open letter
to Prime Minster Mahathir (9/1/98)
The
confidence game (The New Republic, 10/5/98)
Heresy time
(9/28/98 - a note on why I have starting saying outrageous things)
Curfews on capital:
what are the options? (10/12/98 - why dollar debt is not the problem)
The eternal
triangle (10/13/98 - a note on global "architecture")
Even worse than
you think (10/27/98) Financial Times
The return of
Dr. Mabuse (New York Times Magazine)
The web gets
ugly (New York Times Magazine, Dec. 6, 1998)
Japan heads
for the edge (Financial Times, 1/20/99)
Alas, Brazil
(2/1/99)
Syllabus
for graduate macro
A monetary
fable (The Independent)
Delusions
of respectability (2/7/99)
Inflation
targeting in a liquidity trap: the law of the excluded middle (2/10/99)
Some chaotic
notes on regional dynamics (3/10/99)
Labor
pains (The New York Times Magazine, 5/23/99)
Still
depressed about Japan (Financial Times)
Global vision
du jour (Washington Monthly)
Money can't
buy happiness - er, can it? (New York Times)
The euro,
living dangerously (A quick note after reading the news)
Recovery?
Don't bet on it (Time, Asia edition)
A dollar
crisis? (memo, August 1)
Why I am
an economist (sigh) (Notes during textbook revision)
Land
of the rising yen
Pathetic
is the word
Networks
and increasing returns: a cautionary tale
Dow 36,000:
how silly is it?
The wonders
of editing
Notes on
Social Security
Class warfore?
Stuff that is harder to read
" What happened
to Asia? " (for a conference in Japan, January 1998)
" Fire-sale FDI
" (for NBER Conference on Capital Flows to Emerging Markets, Feb. 20-21,
1998)
" Japan's trap
" (May 1998: an attempt to clarify my own thoughts on the Japanese slump)
Further notes
on Japan's liquidity trap (clarification on "Japan's trap")
But for, as if,
and so what (a technical note on the effect of trade on wages)
Latin America's
swan song (notes on the current dilemma)
It's baaack! Japan's
slump and the return of the liquidity trap (draft Brookings Paper
- requires Adobe Acrobat)
Japan's bank
bailout (10/17/98 - why the scheme is likely to fail)
Japan: still
trapped (11/30/98 - a restatement of the argument)
There's something
about macro (notes about teaching graduate macroeconomics)
The world's
smallest macroeconomic model
Balance sheets,
the transfer problem, and financial crises (pdf file, rough draft of
conference paper)
Can deflation
be prevented? (2/21/99)
Deflationary
spirals (2/25/99)
The spatial
economy: introduction (introduction to forthcoming book with Masahisa
Fujita and Anthony J. Venables)
The fall
and rise of development economics (a 1994 essay about models and methods
from Rodwin and Schon,
Rethinking the Development Experience)
Heaven
is a weak euro (6/3/99)
And now for
something completely different (Paper presented at a 1998 conference
on trade and inequality)
Analytical
afterthoughts on the Asian crisis (9/12/99)
Time on the
cross: can fiscal policy save Japan? (9/21/99)
Was it all
in Ohlin? (paper for Centennial celebration of Bertil Ohlin, Stockholm)
Thinking
about the liquidity trap (paper for NBER/CEPR/TCER conference in Tokyo,
Dec. 1999)
The energy
crisis revisited (note posted Mar. 5, 2000)
Copyright
© 1997 Massachusetts Institute of Technology