The Nobel prize for Economics ($1.42 million) this year has gone to Paul Krugman who teaches graduate-level courses at Princeton and is a columnist with New York Times on economic issues. He is a strong critic of the political and economic policies of the Bush Administration. He warned about the impending global financial crisis much in advance.

Krugman teaches the international monetary theory and policy as well as international liquidity crises. Many of his fans felt he would do good as Secretary of Treasury in the US government. In 1993, the then US President Bill Clinton had interviewed him for the post, but did not offer it to him. Rumors revealed that perhaps his outspokenness in issues went against him.

Krugman is more keen on his writing forays, writing for the layman reader of economics. He will continue to write for The Economist, Fortune, Washington Monthly and Harpers.

The Nobel Committee recognized the efforts of Krugman in analyzing how the economies of scale can have an impact on the trade patterns and the economic locales. The Committee also appreciated his efforts to understand free trade, worldwide urbanization and globalization.
The Nobel prize for Economics ($1.42 million) this year has gone to Paul Krugman who teaches graduate-level courses at Princeton and is a columnist with New York Times on economic issues. He is a strong critic of the political and economic policies of the Bush Administration. He warned about the impending global financial crisis much in advance.

Krugman teaches the international monetary theory and policy as well as international liquidity crises. Many of his fans felt he would do good as Secretary of Treasury in the US government. In 1993, the then US President Bill Clinton had interviewed him for the post, but did not offer it to him. Rumors revealed that perhaps his outspokenness in issues went against him.

Krugman is more keen on his writing forays, writing for the layman reader of economics. He will continue to write for The Economist, Fortune, Washington Monthly and Harpers.

The Nobel Committee recognized the efforts of Krugman in analyzing how the economies of scale can have an impact on the trade patterns and the economic locales. The Committee also appreciated his efforts to understand free trade, worldwide urbanization and globalization.

source:TOI Oct.14th 2008