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CNN Commentary Quotes Paul Krugman’s Comments at Willamette

When Nobel Prize-winning economist Paul Krugman visited Willamette in January, the media took notice. In a recent commentary for CNN critiquing the federal economic stimulus package, Julian E. Zelizer, a professor of history and public affairs at Princeton University's Woodrow Wilson School, noted the predictions Krugman made when talking with Willamette students.

"I'm not sure if the $800 billion stimulus plan is adequate to the problem," Krugman said before the final deal had been reached. "We're facing one hell of a crisis and we'll need more than a Band-Aid. ... My guess is that the administration will be back later this year for a second round."

In his column, Zelizer wrote that early critics like Krugman are "worth revisiting" as the country analyzes whether the stimulus program is working.

Krugman, an influential opinion writer for The New York Times, received the Nobel Prize in 2008 for his analysis of trade patterns and economic activity. He visited Willamette as part of the Atkinson Lecture Series. The next speaker in the series is Fareed Zakaria, editor of Newsweek International, who visits Oct. 16.

To learn more about Krugman's visit, go to www.willamette.edu/news/library/2009/01/economy_says_no.html. To read the full CNN editorial by Zelizer, visit www.edition.cnn.com/2009/POLITICS/07/14/zelizer.economy.

07-15-2009