Paul Krugman’s net worth amounts to $2.5 Million
Paul Krugman Wiki Biography
Paul Robin Krugman, born on 28th February 1953 in Albany, New York State USA, is a Distinguished Professor of Economics at the Graduate Center of the City University of New York, a former professor at Princeton University, and a columnist for “The New York Times”. In 2008, he was honored with the Nobel Memorial Prize in Economic Sciences, and as of 2016, he is ranked the 24th most influential economist globally based on quotations of his works. He has authored over 20 books and 200 scholarly articles.
Paul Krugman’s estimated net worth is $2.5 million, amassed through an exceptionally successful career as an economist, which has brought him significant influence worldwide. The numerous accolades he has received have greatly contributed to his fame and wealth.
Paul Krugman Net Worth $2.5 Million
Paul was born into a Jewish family and is of Belarussian and Polish descent, as his paternal grandparents immigrated to the United States in the 1920s. Despite being born in Albany, he grew up in Merrick, Nassau County, and developed an interest in economics after reading Isaac Asimov’s “Foundation” novels during his time at John F. Kennedy High School. Krugman pursued his studies in economics at Yale University, graduating with a BA summa cum laude in 1974, and later completing his PhD at Massachusetts Institute of Technology. In the late ‘70s, he embarked on research on international trade and a novel model of monopolistic competition within it. His contributions in developing and popularizing the new theory of trade were influential, focusing on consumers’ preference for diversity and explaining the survival of higher cost goods. This became an area of his expertise and the foundation for his Nobel Prize in 2008.
This New Trade Theory evolved into New Economic Geography, and in 1991, he published a seminal paper on the topic, which became one of the most cited in the field of economics. Paul held professorships at prestigious institutions including MIT, Princeton University, and the London School of Economics. During Ronald Reagan’s presidency, he spent a year as a member of the Council of Economic Advisers, all of which significantly contributed to his net worth.
Krugman gained popularity through his columns in “Slate” and “The New York Times”, where he was known for his sharp criticism of the Bush administration. He was particularly vocal about his disapproval of tax cuts for the wealthy, which, in his view, led to budget deficits. Additionally, he was a prominent critic of the Iraq war and the increasing income inequality in America.
He further garnered acclaim for his work in macroeconomics and fiscal policy. Following his study of the Japanese and Asian crises, he authored the book “The Return of Depression Economics”. Throughout his career, Krugman became known for his outspoken criticisms of politicians and other economists.
In his personal life, Paul has been married twice, first to designer Robin L. Bergman, and is currently married to academic economist Robin Wells. He considers himself a sci-fi enthusiast and describes himself as somewhat of a loner with a shy personality.
