Paul Robin Krugman is an economist born on 28th February 1953, in Albany, New York State USA, and is a Distinguished Professor of Economics at the Graduate Center of the City University of New York, formerly professor at Princeton University and a columnist for “The New York Times”. In 2008, he received the Nobel Memorial Prize in Economic Sciences, and as of 2016 he is ranked 24th most influential economist in the world, based on quotations of his work. He has written more than 20 books and over 200 scholarly articles.
Have you ever wondered how rich Paul Krugman is? According to sources, it has been estimated that Paul Krugman’s overall net worth is $2.5 million, accumulated through an extraordinarily successful career as an economist, who has become highly influential worldwide. The numerous acknowledgements he has received have significantly increased his popularity and essentially added to his net worth.
Paul Krugman Net Worth $2.5 Million
Paul was born into a Jewish family, and is of Belarussian and Polish ancestry as his paternal grandparents immigrated to United States in the 1920s. Although born in Albany, he grew up in Merrick, Nassau County, and attended John F. Kennedy High School where he became interested in economics after reading Isaac Asimov’s “Foundation” novels. Krugman decided to study economics at Yale University, and graduated with a BA summa cum laude in 1974, later finishing his PhD at Massachusetts Institute of Technology. In the late ‘70s, he began working on international trade and a new model of monopolistic competition within it. His contributions on developing and popularising work on the new theory of trade were influential, as he explained the importance of consumers’ preference for diversity and the explanation of the higher cost goods survival, becoming an area of his expertise, and the basis for his Nobel Prize in 2008.
This New Trade Theory of his evolved into New Economic Geography, and in 1991 he published his seminal paper on the topic which became one of the most cited in the field of economics. Paul worked as a professor at various prestigious universities, including MIT, Princeton University and the London School of Economics, and during the Presidency of Ronald Reagan, spent a year on the Council of Economic Advisers, all contributing significantly to his net worth.
The columns Krugman wrote in the “Slate” and “New York Times” made him popular among the public, as he was highly critical of the Bush administration. In general, Krugman disapproved of the policy of cutting taxes for the rich, which he contended led to budget deficits. Apart from this, Paul was known as the critic of the Iraq war, and the growing income inequality in America.
He further became famous for his work on macroeconomics and fiscal policy, and after studying the Japanese and Asian crisis, he published the book “The Return of Depression Economics”. Throughout his career, Krugman became known for his general direct and open criticism of politicians, and of other economists.
When it comes to his private life, Paul has married twice, firstly to designer Robin L. Bergman, and is now married to academic economist Robin Wells. He identifies himself as a sci-fi geek and describes himself as a bit of a loner with a shy personality.
