Respect for Krugman

One of the few economists I can actually understand, let alone agree with…

Oct. 13 (Bloomberg) — Princeton University professor and New York Times columnist Paul Krugman won the Nobel Prize in economics for his work on trade theory.

Krugman, 55, received the prize “for his analysis of trade patterns and location of economic activity,” said the Royal Swedish Academy of Sciences, which selects the winners. His work explained how economies of scale influence trade and urbanization.

“It’s a total surprise,” Krugman said in a telephone interview.

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