Paul Krugman wins Economics Nobel
Professor of Economics at the Princeton University and New York Times columnist Paul Krugman won the Nobel Prize for Economics for his analysis of how Economies of Scale can affect trade patterns and the location of economic activity.
Krugman is the winner of 10 million kronor or US$1.4 million Award. The Royal Swedish Academy of Sciences chose Krugman for formulating a new theory to answer questions about free trade.
Incidentally, Krugman is a fierce critic of the economic policies being followed by the US administration led by President George Bush.