Not to worry. Paul Krugman will join the City University of New York’s Graduate Center as an economics professor in the Ph.D. program and as a distinguished scholar at the Graduate Center’s Luxembourg Income Study Center.
So, what kind of salary does he get for that position?
According to the National Review:
The City University of New York recently announced that it is going to pay Paul Krugman $225,000 for part-time work studying... income inequality.
That’s $25,000 per month (over two semesters), to “play a modest role in our public events” and “contribute to the build-up” of a new “inequality initiative.”
It is not clear, and neither CUNY nor Krugman was able to explain, what “contribute to the build-up” entails.
For those who don’t know... CUNY, which is publicly funded, pays adjunct professors approximately $3,000 per course. The annual salaries of tenured (but undistinguished) professors, meanwhile, top out at $116,364,
A salary of $25,000 a month sure sounds like an inequality initiative.
Thanks for posting this information on Krugman’s CUNY salary prospects and contrasting that with what a regular faculty or adjunct is paid. Such information cannot be explained as anything but a political payoff. I can add that if a NY university was seeking a new professor, that university would have salary restrictions that would not permit hiring someone at twice the budgeted salary regardless of the background of the applicant. The applicant would simply have to accept the budgeted salary or decline to take the position.