In addition to the Nobel Prize, Krugman’s work in economics has earned him worldwide acclaim in the field of international trade and economic geography. He is a well known author and authority in his field and is a member of President Obama’s economic advisory team. Professor Krugman has famously been quoted as saying it is time the banks reverted “to becoming boring again” and to return to their basic fundamentals. In his speech at Megatrends he is expected to preach his philosophy that governments should be cautious in their handling of their natural resources and not to squander the income generated during the good times, preferring instead to build up “rainy day funds” that can be drawn upon when economic times get bad.
His Excellency Ali Saeed Bin Harmal Al Dhaheri, Chairman of ADU, said that securing Professor Krugman as a speaker is a real coup for Abu Dhabi as his insights on the outlook for global GDP and revelations into the future direction of the world economy will make compelling listening. “Professor Krugman’s extensive work in international economics, including work on international trade, economic geography and international finance, has led him to be cited as among the 50 most influential economists in the world today,” he said. “Professor Krugman’s presentation will address issues such as when the global economy will truly reach the bottom and begin to bounce back, examine whether the response of Western Economies to the economic slump is effective and scrutinise which country has the right plan for economic recovery. Participants to the conference will gain important strategic insights for their organisations’ financial future, while better understanding the strength of Abu Dhabi in the new world economy.”