American Paul Krugman wins the Nobel Prizefor economics
STOCKHOLM, Sweden (AP) -- The Royal Swedish Academy of Sciences says that American Paul Krugman has won the Nobel economics prize "for his analysis of trade patterns and location of economic activity."
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.
This is just hot off the wires. What a wonderful day to start Monday morning.
Krugman wins $1,400,000 plus he makes the wingnuts heads explode at the same time.
Professor Krugman's latest column deals with the UK response to the world financial crisis and the leadership role they are taking.
This is an unexpected turn of events. The British government is, after all, very much a junior partner when it comes to world economic affairs. It’s true that London is one of the world’s great financial centers, but the British economy is far smaller than the U.S. economy, and the Bank of England doesn’t have anything like the influence either of the Federal Reserve or of the European Central Bank. So you don’t expect to see Britain playing a leadership role.
But the Brown government has shown itself willing to think clearly about the financial crisis, and act quickly on its conclusions. And this combination of clarity and decisiveness hasn’t been matched by any other Western government, least of all our own.
Yippee!