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

Analysis and Commentary

You’re Big, Germany. Now Act Like It.

by Melvyn B. Kraussvia Yahoo Finance
Sunday, May 19, 2019

Germany’s best friends in Europe, the Dutch, are becoming concerned that Europe’s most important country has adopted a small-country mentality. They’re right.

In the News

ECB Faces Stimulus Pressure Over Falling Inflation Outlook

quoting Melvyn B. Kraussvia Financial Times
Sunday, April 14, 2019

A technical measure of the inflation expectations of eurozone investors has fallen to its lowest level for three years, putting pressure on the European Central Bank to convince doubters that it is willing to use fresh stimulus to boost the region’s economy.

In the News

Philip Lane Sole Candidate For Top ECB Role

quoting Melvyn B. Kraussvia Financial Times
Thursday, January 31, 2019

Philip Lane looks set to secure the job of replacing Peter Praet as the European Central Bank’s chief economist, becoming the first Irish member of the bank’s top-ranking executive board in the process.

Analysis and Commentary

The ECB Should Extend Its Bond-Buying Programme

by Melvyn B. Kraussvia Financial Times
Sunday, November 18, 2018

The European Central Bank is signaling that it intends to end its €2.5tn quantitative easing programme next month. Mario Draghi, ECB president, made that clear at the bank’s monthly meeting in October. Yet the recent eurozone growth numbers were the weakest since 2014. The danger for the ECB is that it will have to start QE up again soon after ending it.

Analysis and Commentary

The ECB Should Choose An Italian To Supervise Banks

by Melvyn B. Kraussvia Bloomberg Quint
Wednesday, August 29, 2018

Melvyn Krauss is a senior fellow at the Hoover Institution at Stanford University and an emeritus professor of economics at New York University.

Analysis and Commentary

What Do Steel Tariffs Have To Do With Iran? Plenty

by Melvyn B. Kraussvia Bloomberg
Thursday, May 31, 2018

Europe's temporary waiver from U.S. import quotas on steel and aluminum is about to expire, and most experts are pessimistic that a U.S.- EU trade war can be avoided.


Trump's Steel, Aluminum Tariffs Will Hurt Our Economy And Tank Our Stock Market

by Melvyn B. Kraussvia USA Today
Friday, March 2, 2018

With tax cuts and spending increases already raising the prospect of inflation, protectionism will push the Fed to raise rates even faster.

In The #MeToo Era, The Audience Deserves A Voice

by Melvyn B. Kraussvia USA Today
Thursday, January 18, 2018

Americans are being deprived of a great conductor's talents with little regard for his guilt or innocence. Our already shaky institutions of high culture will pay a price.

Analysis and Commentary

Trump's Tax Cut Won't Deliver Promised Growth. Republicans Put Politics Over Permanence.

by Melvyn B. Kraussvia USA Today
Wednesday, January 3, 2018

Thanks to Trump’s divisive "get even" mentality, the Republicans have missed a golden opportunity for permanent corporate tax reform.


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.