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Progressive economics—also known as New Progressive Economics [6] —made a comeback in the United States to the forefront public discourse after the Great Recession of the late 2000s. Popular dissatisfaction with government policies favouring big business and the bailout of banks led to the emergence of the Occupy Wall Street movement.
Krugman was President of the Eastern Economic Association in 2010, [11] and is among the most influential economists in the world. [12] He is known in academia for his work on international economics (including trade theory and international finance), [ 13 ] [ 14 ] economic geography, liquidity traps , and currency crises .
The announcement of the 2008 Nobel Memorial Prize in Economic Sciences in Nobel Prize Press Conference. The laureate of the Prize was Paul Krugman.. The Nobel Memorial Prize in Economic Sciences, officially the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel [1] [2] [3] (Swedish: Sveriges riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne), commonly referred ...
One of the most influential economists of the 20th century, [5] [6] [7] he produced writings that are the basis for the school of thought known as Keynesian economics, and its various offshoots. [8] His ideas, reformulated as New Keynesianism, are fundamental to mainstream macroeconomics. He is known as the "father of macroeconomics". [9]
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Anti-market progressives dominate the Biden administration. Their policies also help discredit it.
Shiller was ranked by the IDEAS RePEc publications monitor in 2008 as among the 100 most influential economists of the world; [8] and was still on the list in 2019. [9] Eugene Fama , Lars Peter Hansen and Shiller jointly received the 2013 Nobel Memorial Prize in Economic Sciences , "for their empirical analysis of asset prices".
He was commenting on the phenomenon of “greedflation,” an economic bugbear previously beloved of progressive economists, not quite venerable 160-year-old French investment banks.