Geography and trade

Description

I have spent my whole professional life as an international economist thinking and writing about economic geography, without being aware of it, begins Paul Krugman in the readable and anecdotal style that has become a hallmark of his writings. Krugman observes that his own shortcomings in ignoring economic geography have been shared by many professional economists, primarily because of the lack of explanatory models. In Geography and Trade he provides a stimulating synthesis of ideas in the literature and describes new models for implementing a study of economic geography that could change the nature of the field. Economic theory usually assumes away distance. Krugman argues that it is time to put it back - that the location of production in space is a key issue both within and between nations. Paul Krugman is Professor of Economics at the Massachusetts Institute of Technology. He has been a consultant to the International Monetary Fund, the World Bank, the United Nations, the Trilateral Commission, and the U.S. State Department. He is a member of the Group of Thirty. His books include the recent bestselling Age of Diminished Expectations: U.S. Economic Policy in the 1990s.