Fifth Luca d’Agliano Lecture in Development Economics

Fifth Luca d’Agliano Lecture in Development Economics: “Does outsourcing change everything?” by Paul R. Krugman (Professor of Economic and International Affairs, Woodrow Wilson School of Public and International Affairs, Princeton University – Nobel Prize in 2008), 11 June 2007, 5.30 p.m., Fondazione Luigi Einaudi, Palazzo d’Azeglio, Via Principe Amedeo 34, 10123 Turin.

New types of international trade, generally grouped together under the catchall term “outsourcing”, have been a source of considerable debate. Even sober economists suggest that they require a “new paradigm” for thought, and/or raise new questions about the beneficial character of trade. Professor Paul R. Krugman suggests that outsourcing, if you think about it the right way, fits closely into existing paradigms. However, both hopes for and concerns about outsourcing have some real basis: the prospects for developing country exports are better than we realized, but so are the prospects for serious income distribution.

Paul Krugman, currently Professor of Economics and International Affairs at Princeton University, joined the New York Times as a columnist on the Op-Ed page in 1999. He has also taught at Yale, MIT and Stanford and served on the U.S Council of Economic Advisers. His work focuses largely on international trade and finance. His major rethinking of the theory of international trade, otherwise known as his “new trade theory”, has earned him an important professional reputation. In 1991, in recognition of this work, he was awarded the John Bates Clark Medal, a prize given every two years by the American Economic Association to an economist under forty. Paul Krugman is the author or editor of dozens of books (“Peddling Prosperity”, “International Economics: Theory and Policy”), and several hundred papers, (published in magazines and journals such as Fortune, Slate, The Harvard Business Review, Foreign Affairs, The Economis), a number of which are targeted to a broader public audience of non-economists.

Text of the Lecture