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ECONOMY: Nobel Honours Man Who Told Bush to "Please Go Away"
By Wolfgang Kerler

Paul Krugman

Credit:Princeton University

NEW YORK, Oct 13 (IPS) - Paul Krugman, a professor at Princeton University who is best known for his New York Times columns -- frequently involving scathing assaults on the policies of the George W. Bush administration -- was awarded the 2008 Nobel Memorial Prize in Economic Sciences for his research on international trade and economic geography.

"To be absolutely, totally honest I thought this day might come someday, but I was absolutely convinced it wasn't going to be this day," Krugman, a 55-year-old U.S. national, said in an interview with The Times Monday.

The Royal Swedish Academy of Sciences, which administers the award, said it was bestowed on Krugman "for his analysis of trade patterns and location of economic activity".

"This was definitely a 'real world' pick and a nod in the direction of economists who are engaged in policy analysis and writing for the broader public," Tyler Cowen, professor of economics at George Mason University, commented on his weblog "Marginal Revolution".

Krugman found new ways to explain what goods are produced where, and how capital and labour are distributed over countries and regions.

Most of the discussion going on on the Internet after the announcement of the prize committee, however, was not about Krugman's scientific achievement, but about the strong positions he took as a columnist, author and blogger.

Krugman served as an advisor to Bill Clinton's presidential campaign, and for a short time was a consultant to former president Ronald Reagan.

Back in 2000, a year after he joined The New York Times, Krugman spent a great deal of effort "trying to alert readers to the blatant dishonesty of the Bush campaign's claims about taxes, spending and Social Security", as he wrote in a column this year.

KRUGMAN

[mises]

Bill O'Reilly said that Krugman only thought there was a housing bubble cause he (PK) hates George Bush. Then he called him an anti-American pinhead.

I suspect Krugman will have a place in an Obama administration. No?

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