Saturday, March 1, 2014
Krugman Leaves Princeton For CUNY
CUNY has captured a top economist from the Ivy League. Krugman claims that he wanted to live in NYC for its good restaurants etc. He said that Princeton is a great university and that his decision was about life style. CUNY seems to connect his decision with his new research interest. That may be a good choice for Krugman. He was going nowhere in his arguments with the Chicago crowd. They won't like the work that he will do at CUNY either but they are irrelevant in the area of income distribution. They don't even know the word. In a perfectly competitive economy public welfare is maximized due to Pareto efficiency.