Kudos to Krugman

Maggie Barker Taylor's picture

Congrats to Princeton Professor Paul Krugman for winning the Nobel Prize in Economics. I first "met" Krugman in graduate school, through the pages of his text book, International Economics, which still sits on my bookshelf. Krugman taught trade policy in a clear, cogent manner, veering off the dry discourse of tariffs and quotas to highlight real-life examples of the costs and benefits of trade. At my school, "free trade" was king, but Krugman saw a role of government in shaping trade policy -- a notion that, I think, helped my classmates understand more thoroughly the broader political and societal implications of trade.  For those of us with more liberal leanings, this felt like a comfortable place -- we could support the economic gains from trade, while also arguing that the government played a role in softening losses from trade. Without further ado, cheers to Krugman.