Department of Economics

The Department of Economics announces with sadness the passing of Paul Wolf Kuznets, professor emeritus.

Paul Wolf Kuznets, Professor Emeritus of Economics at Indiana University, died on September 6, 2024 at age 92.

The son of Simon Kuznets (a Nobel Laureate) and Edith Handler, Paul was raised on the East Coast and earned a BA from Swarthmore College and a PhD from Yale University. He served in the Army and on the Federal Reserve Board’s research staff before moving to Bloomington with his family to join Indiana University’s Economics Department. The family moved again to Seoul, Korea in 1966 where he began a study of the Korean economy, sponsored by Yale, which launched his career as a development economist with an interest in the far east and a focus on Korea.

Paul’s research yielded two books, two dozen journal articles and monographs, and garnered hundreds of citations. It led to new classes at IU, many book reviews, and a series of invited lectures in the U.S. and abroad. He was also a faculty advisor for the University of Northern Sumatra.

Paul and Gretchen Kromer married in 1979. They shared many interests: raising the cats who were an integral part of the Kuznets-Kromer household, travel, photography, politics, scuba diving, and exercise. (Paul worked out and enjoyed the comradery of the Iron Pit Gym well into his 90’s). His other interests included public service (he was a museum docent and a Big Brother), photography, woodworking, mystery novels, classical music, and World War II literature.

Survivors include Paul’s wife, Gretchen Kromer, his sister Judith (Norman) Stein, daughter Naomi and grandson Benjamin, and daughter Miriam (Max) Taub and grandson Eli.

Notes by his wife:

Paul was one of the first scholars to study the economy of Korea before it became an economic powerhouse. He had a deep appreciation for Korean culture and valued his many friendships there.

Paul willed his body to science. There will be no funeral or memorial.