Monday, October 13, 2008

Paul Krugman Wins Nobel Prize

Princeton economics professor and New York Times op-ed columnist Paul Krugman has won the Nobel Prize for economics “”for his analysis of trade patterns and location of economic activity.”

The award, known as the Nobel Memorial Prize in Economic Sciences, is the last of the six Nobel prizes announced this year and is not one of the original Nobels. It was created in 1968 by the Swedish central bank in Nobel’s memory.

Here’s his column for today, looking at how the British are dealing with the current economic crisis. What I’ve always liked about Dr. Krugman’s approach is that he can explain complex issues to people like me whose grasp of economic stability and theory is being able to balance their checkbook with the help of Quicken. That may not be why the Swedish Academy chose him, but in a time like this, it helps to have someone make some sense of it for me.

I’m sure the right wing’s response will be measured … in exploding heads on the Richter scale.

Congratulations, Dr. Krugman.