Monday, October 13, 2008
Posted by Simon Halliday | Monday, October 13, 2008 | Category: Macroeconomics |
Paul Krugman was just announced as the winner of the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2008, supposedly for his "analysis of trade patterns and location of economic activity". Go Paul Krugman! Krugman is a professor of Economics at Princeton University (and before that MIT,Yale, LSE, &c). Currently, Krugman has advocated nationalization of bank debt - i.e. injections of liquidity by buying government buying up bad debt but also getting shares in businesses. He maintains a blog at the NYT, in addition to being a bi-weekly columnist for the newspaper. He also drew up a model of the spread of the crisis prior to the leaders of the EU, UK and US meeting in Washington. I think he is a worthy winner of the prize, though I had hoped that Oliver Williamson (transactions costs and institutional economics) and/or Richard Thaler (behavioral and experimental economics) might get it. Nevertheless, Krugman is a good economist and deserves the prize. Congratulations Paul Krugman.