Anne Osborn Krueger facts for kids

Quick facts for kids Anne Krueger
Acting Managing Director of the International Monetary Fund
In office March 4, 2004 – June 7, 2004
Preceded by	Horst Köhler
Succeeded by	Rodrigo Rato
First Deputy Managing Director of the International Monetary Fund
In office September 1, 2001 – August 31, 2006
Preceded by	Stanley Fischer
Succeeded by	John Lipsky
Chief Economist of the World Bank
In office 1982–1986
President	Alden W. Clausen
Preceded by	Hollis Chenery
Succeeded by	Stanley Fischer
Personal details
Born	(1934-02-12) February 12, 1934 (age 91) Endicott, New York, U.S.
Education	Oberlin College (BA) University of Wisconsin–Madison PhD)
Academic career
Institutions	Johns Hopkins University Stanford University Duke University University of Minnesota
Doctoral advisor	James Earley
Doctoral students	Zvi Eckstein

Anne Osborn Krueger (born February 12, 1934) is a famous American economist. An economist studies how people and countries make choices about money and resources. She held important jobs at big international organizations.

From 1982 to 1986, she was the top economist at the World Bank. Later, from 2001 to 2006, she was a main leader at the International Monetary Fund (IMF). She even served as the acting head of the IMF for a few months in 2004. Today, she teaches about global economics at Johns Hopkins School of Advanced International Studies. She is also a senior expert at Stanford University.

Early Life and Education

Anne Krueger was born in Endicott, New York, on February 12, 1934. Her father was a doctor. She has uncles who were important in Australia, one a politician and one a scientist.

She went to Oberlin College and earned her first degree in 1953. She then continued her studies at the University of Wisconsin–Madison. There, she earned her master's degree in economics in 1956. She completed her Ph.D. in economics in 1958.

A Career in Economics

Anne Krueger is well-known for her work in economics, especially about trade between countries. She also created the term "rent-seeking" in 1974. This term describes when groups try to get special benefits from the government. She has often spoken out against sugar subsidies in the U.S.

She has written many articles and books. Her work often focuses on how countries can improve their economies. She also writes about how big international groups help the global economy.

Teaching and Research

Krueger started her teaching career at the University of Wisconsin in 1955. She became an economics professor there in 1958. From 1959 to 1982, she taught economics at the University of Minnesota.

After that, she became the World Bank Chief Economist from 1982 to 1986. While at the World Bank, she led big studies. These studies looked at how trade affects different countries.

She then taught at Duke University from 1987 to 1993. In 1993, she joined Stanford University. She stayed at Stanford until 2001. At Stanford, she also helped start a center for economic development research.

Leadership at the IMF

Anne Krueger became the First Deputy Managing Director of the International Monetary Fund (IMF) in 2001. She held this important role until 2006. For a short time in 2004, she was the acting head of the IMF. This happened after the previous head resigned. She was the only woman to lead the IMF until 2011.

In 2005, she received an honorary award from Trinity College Dublin. In 2010, her old college, Oberlin College, also gave her an honorary degree. Since 2007, she has been teaching at the Johns Hopkins School of Advanced International Studies.

She is a highly respected member of many economic groups. These include the American Economic Association and the National Academy of Sciences. She has also received several awards for her work in economics.

Struggling with Success

In her 2012 book, Struggling with Success: Challenges Facing the International Economy, Anne Krueger talks about globalization. Globalization means how countries and economies become more connected. She argues that globalization has helped improve life for many people around the world.

She explains that since about 1800, countries have become much more connected. During this time, many poor nations saw their quality of life improve greatly. Krueger's book looks at why some Asian countries grew very fast. She also discusses how government rules changed after World War II. She believes that fewer rules (deregulation) helped the world economy grow.

Krueger stresses that countries should remove barriers to trade. She also believes they should reduce rules within their own economies. She mentions tools that helped remove trade barriers, especially in farming. She says that research should give clear, measurable results that leaders can use. She warns that economists' ideas can sometimes be misunderstood by politicians.

She concludes that too many rules can harm a country's market. These rules can also affect other countries that trade with it. For example, some U.S. taxes caused financial businesses to move to London. She believes that open trade has led to huge economic growth. This growth has shown the importance of supply-side economics. This idea focuses on how producing goods and services affects the economy.

Understanding Rent-Seeking

In 1974, Krueger wrote an important article called "The Political Economy of the Rent-Seeking Society." In this article, she made the term rent-seeking popular.

Rent-seeking happens when special interest groups try to get favors from the government. These favors can be things like special taxes on imports (tariffs) or rules that limit competition. This behavior is not efficient because it tries to get a bigger share of existing wealth. It does not create new wealth.

Krueger explains that rent-seeking can cause extra costs for society. She also says that if rent-seeking becomes common, it can make it harder for new businesses to succeed. In such markets, new companies might have to spend time and money on rent-seeking. This means they cannot focus on developing new technologies or products. In 2011, her article was named one of the best in the American Economic Review.

Editorship

Anne Krueger has also edited several books, including:

• Reforming India's Economic, Financial and Fiscal Policies (2003, with Sajjid Z. Chinoy).
• Latin American Macroeconomic Reform: The Second Stage (2003, with Jose Antonio Gonzales, Vittorio Corbo, and Aaron Tornell).
• Economic Policy Reform and the Indian Economy (2003).
• A New Approach to Sovereign Debt Restructuring (2002).
• Economic Policy Reform: The Second Stage (2000).
• The WTO as an International Organization (2000).

See also

In Spanish: Anne Osborn Krueger para niños