Paul Krugman is an American economist and a professor at the Graduate Center of the City University of New York. He has written extensively on international trade, macroeconomics, economic geography, and income distribution.
Krugman is known as one of the founders of “New Keynesian” economics which emphasizes government intervention in economic policy rather than relying solely on market forces to determine prices and wages. His work focuses heavily on global finance, with his major contributions being to International Economics and Economic Geography. As such he is seen as one of the world’s leading authorities on these topics.
Krugman holds strong views about cryptocurrency in that he believes it will not have any significant impact economically or financially because its underlying value remains unclear due to its volatility. He thinks that cryptocurrencies can be used for speculation but are not suitable for transactions or investments due to their lack of stability. Despite this opinion, Krugman acknowledges that blockchain technology could potentially revolutionize many industries including banking and financial services by providing a secure platform for digital payments and transferable assets between participants without requiring a third party intermediary like a bank or government agency. This view has been echoed by other prominent economists such as Larry Summers who see potential benefits from this technology despite questioning its current ability to become widely adopted given existing regulatory challenges faced by countries worldwide attempting to regulate cryptocurrencies within their respective jurisdictions.
