Melvyn B. Krauss

William L. Clayton Senior Fellow, Emeritus

Melvyn Krauss is the emeritus William L. Clayton Senior Fellow at the Hoover Institution. He is also emeritus professor of economics at New York University. He is an expert on international economics and economic development.

Krauss' current research focuses on the relationship between free trade and the welfare state, foreign trade policy issues, and regional economics.

His recent publications include How Nation's Grow Rich (Oxford University Press, 1997) and Free Trade Doesn't Kill Social Programs (Wall Street Journal, December, 1997). Krauss is also the author of How NATO Weakens the West (Simon and Schuster, 1986), Development Without Aid (McGraw Hill, 1983), and The New Protectionism (New York University Press, 1978).

Krauss has taught at various universities outside the United States including the London School of Economics, the University of Amsterdam, the University of Stockholm, the University of Aix-Marseille, and McMaster University, Hamilton, Ontario. He has also held teaching positions at New York University, Johns Hopkins School of Advanced International Studies, and Stanford University.

Krauss has published more than 35 articles in scientific journals, including the American Economic Review, the Journal of Economic Literature and the Journal of Political Economy.

Krauss received a BA degree from Brooklyn College, an MA in economics from New York University, and completed a PhD in economics at New York University in 1968.

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Recent Commentary


The Pitfalls Of Cutting Low-Skilled Immigration

by Melvyn B. Kraussvia The Herald-Sun
Friday, August 11, 2017

President Donald Trump has thrown his support to the Cotton-Perdue bill to restrict legal immigration of low-skilled workers into the U.S. by as much as 50 percent on the grounds it would raise the wages of American working families. That’s not what the economic evidence is showing, however.


Italy's Bank Bailout Serves German Interests Too

by Melvyn B. Kraussvia Bloomberg
Friday, July 7, 2017

As Europe’s politicians digest the lessons from Italy’s recent 17 billion euro ($19.34 billion) bailout of two Venetian banks, two schools of opinion have emerged. The majority view is that the bailout, while less than ideal, at least brought greater financial stability to Italy.

Analysis and Commentary

A Border Tax Adjustment Will Cost U.S. Consumers

by Melvyn B. Kraussvia Bloomberg
Wednesday, February 22, 2017

Republicans in Congress have come up with what they think is a great way to pay for President Trump's corporate-tax cuts: a so-called border tax adjustment, which would provide a rebate for exports while placing an added duty on the country's much larger volume of imports.

Analysis and Commentary

Let’s Make A Deal On Russia And NATO

by Melvyn B. Kraussvia Wall Street Journal
Wednesday, February 1, 2017

Trump leaves sanctions alone, while allies spend more on defense.

Analysis and Commentary

The ECB Can't Risk A Taper Tantrum

by Melvyn B. Kraussvia Bloomberg
Wednesday, October 19, 2016

With inflation in the euro zone starting to show signs of life, European Central Bank watchers are beginning to speculate about when quantitative easing might taper off. Germany's Bundesbank, which has been uncomfortable with the bond-buying program from the get-go, is likely to be a leading advocate of scaling back purchases. But there are significant risks to moving too soon.


Why More Women Are Winning At Musical Chairs

by Melvyn B. Kraussvia Bloomberg
Wednesday, July 27, 2016

Once considered a protected male preserve, symphony orchestras are becoming the most gender-blind employers in the U.S. The St. Louis Symphony had 18 women out of 88 musicians in 1964. In 2016, more than half of its musicians were women.


The EU's Inflexible Bank Rules Risk An Italian Brexit

by Melvyn B. Kraussvia Bloomberg
Tuesday, July 5, 2016

The fears of Brexit contagion may have seemed overblown after Spain's election a week ago. But as Italy's continuing banking crisis shows, the euro zone still faces major challenges.

Analysis and Commentary

Savers' Savior Steps Out Of Line

by Melvyn B. Kraussvia Handelsblatt Global Edition
Thursday, May 12, 2016

[Subscription Required] Surely Wolfgang Schäuble has taken his criticisms of the European Central Bank's policies too far, argues a U.S. economist.

Analysis and Commentary

‘Disguised’ Currency War Not Working

by Melvyn B. Kraussvia Handelsblatt Global Edition
Friday, April 15, 2016

[Subscription Required] We will all be better off when central bankers stop taking the easy road of devaluing their currencies, argues a U.S.-based expert on international economics and development.

Analysis and Commentary

Europe Needs To Pull Together On Security

by Melvyn B. Kraussvia Handelsblatt Global Edition
Tuesday, April 5, 2016

[Subscription required] Europe has received security on the cheap for years through NATO, and now it must be willing to spend on its own internal security to protect its citizens.