Income Inequality Institute Will Pay Paul Krugman $25,000 Per Month

Public College's Income Inequality Institute Will Pay Paul Krugman $25,000 Per Month
PRINCETON, NJ - OCTOBER 13: Princeton Professor and New York Times columnist Paul Krugman smiles after a champagne toast in his honor following a press conference to announce his winning the Nobel Prize October 13, 2008 in Princeton, New Jersey. Krugman was given the prestigious award, which includes a prize of $1.4 million for his work on economic trade theory. (Photo by Jeff Zelevansky/Getty Images)
PRINCETON, NJ - OCTOBER 13: Princeton Professor and New York Times columnist Paul Krugman smiles after a champagne toast in his honor following a press conference to announce his winning the Nobel Prize October 13, 2008 in Princeton, New Jersey. Krugman was given the prestigious award, which includes a prize of $1.4 million for his work on economic trade theory. (Photo by Jeff Zelevansky/Getty Images)

According to a formal offer letter obtained under New York’s Freedom of Information Law, CUNY intends to pay Krugman $225,000, or $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.

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