Monday, October 13, 2008

Krugman Wins Nobel Prize

The American economist Paul R. Krugman won the Nobel economics prize on Monday for his analysis of trade patterns and location of economic activity.

“What are the effects of free trade and globalization? What are the driving forces behind worldwide urbanization? Paul Krugman has formulated a new theory to answer these questions,” the academy said in its citation.

“He has thereby integrated the previously disparate research fields of international trade and economic geography,” it said.

Krugman's NYTimes column drives me nuts when it's about politics, but he's great when he is writing about economics. (Except Social Security, which he takes too narrow a view and looks only at the programs, and not the entire government's solvency.)

Nevertheless, his work in international economics is certainly worthy of a Nobel.

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