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Paul Krugman

Has modern economics lost its way? Paul Krugman, one of the first to predict the fall of Asia's tiger economies, defends economics against the policy entrepreneurs who fret about globalisation but have given up algebra. Mike Steinberger talks to him about political cynicism and trade theory

By Mike Steinberger   April 1998

A decade ago, he was its most celebrated heretic. Today, Paul Krugman is the high priest of economics, his career transformed by the unintended consequences of his own iconoclasm. Some of his radical instincts remain; but they now serve a different purpose. The vigour with which Krugman once probed the outer limits of economics is now used to protect its core values. Through his popular writings, he defends the dismal science by exposing fallacies in the public discussion of economic issues -and belittling the people who perpetuate them.

His slash-and-burn punditry is regularly featured in the New York Times, Foreign…

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