Editor Andrew Rosenthal praised Mr. Orzag as "one of the most recognizable names in economics" in a release. His column will appear once or twice monthly.

Mr. Orzag left his job in the Obama cabinet in July after helping to guide the budgeting process behind the stimulus package and health care legislate. At one point he was considered a possible successor to Rahm Emanuel.

In January, Mr. Orzag was the subject of a New York Post cover story about both his engagement to ABC News business correspondent Bianna Golodryga and the pregnancy of his ex-girlfriend, a Greek shipping heiress.

“It’s unfortunate that my personal life was discussed in the tabloids," Mr. Orzag told Ben Smith in July. "But what I think was the correct response was just to focus on continuing and doing my work and that’s what I did.”