Paul Krugman Is 2008 Nobel Economics Prize Winner

Paul Krugman, Nobel Economics Prize Winner

Paul Krugman Is 2008 Nobel Economics Prize Winner! Economist Paul Krugman was announced to be the sole winner of this year's Nobel Economics Prize "for his analysis of trade patterns and location of economic activity" today on October 13. 

He will receive his Nobel gold medal and diploma along with 10 million Swedish kronor ($1.42m  at a formal prize ceremony in Stockholm on December 10.

Paul Krugman, 55, is an economics professor at Princeton University and a columnist for The New York Times. His new trade analysis therory determines the effects of free trade and globalisation, as well as the driving forces behind worldwide urbanisation.

Krugman is a fierce critic of the Bush administration's free-market policies. He opposed to the initial wording of US Treasury Secretary Henry Paulson's 700-billion-dollar financial sector bailout plan weeks ago.

Krugman's win indicated the Noble Prize committee has shift its focus away from the heavily prized liberal market theories widely blamed for the recent worldwide financial crisis/mess. Source & Paul Krugman Image: AFP