Krugman Wins Nobel Prize for Economics

STOCKHOLM, Sweden — The American economist Paul R. Krugman won the Nobel economics prize on Monday, October 13, 2008 for his analysis of trade patterns and location of economic activity.

Mr. Krugman, 55, a professor at Princeton University in New Jersey and a columnist for The New York Times, formulated a new theory to answer questions about free trade, the Royal Swedish Academy of Sciences said.

“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.

Mr. Krugman was the lone of winner of the 10 million kronor ($1.4 million) award, the latest in a string of American researchers to be honored.

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.

Source: The New York Times

Have read and studied his book on International Economics...haha....

Don't know how to comment...phew...I enjoy studying this subject anyway (",)