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20 sats \ 4 replies \ @Undisciplined 8 Dec \ parent \ on: Paul Krugman Rides into the Sunset Politics_And_Law
His Nobel was actually awarded for really innovative work on trade theory that he did during grad school.
There was a long standing conflict between conventional economic predictions based on comparative advantage and what actually occurs in trade flows. Krugman was the first to offer a plausible explanation for it. Other, more plausible, explanations have been developed since, but his work was a big step in the right direction.
OK, so he did work as a grad student under a supervising professor who may have suggested his avenue of research. Who was his graduate advisor, in that case? I will have to read about Krugman’s thesis, then.
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I think the tragedy of Krugman isn't just how bad he was, but that he was capable of doing legitimately brilliant work.
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I was just reading something else and found this gem:
Socialism allocates scarcity. Capitalism incentivizes abundance. Always good to remind ourselves of this from time to time.
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Once he got on the NYT gravy train, I guess he saw no reason to get off of it. He must not have had a real urge to further his research. That is really a shame. He was in on the ground floor of the trade theory but left it for the NYT.
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