Paul “Kruggie” Krugman to get $25,000/mo. to “study” income inequality

Via Gawker:

In late February, the City University of New York announced that it had tapped Princeton economist and New York Times blogger Paul Krugman for a distinguished professorship at CUNY’s Graduate Center and its Luxembourg Income Study Center, a research arm devoted to studying income patterns and their effect on inequality.

About that. 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.

It’s certainly not teaching. “You will not be expected to teach or supervise students,” the letter informs Professor Krugman, who replies: “I admit that I had to read it several times to be clear … it’s remarkably generous.” (After his first year, Krugman will be required to host a single seminar.)

Sooo, basically the esteemed Krugman will get paid $225,000 a year to do … nothing.  In fact, it sounds like this “position” will benefit Paul Krugman a hell of a lot more than those whose incomes he supposedly wants to make “more equal.”  Sound familiar?

(hat tip)