Categorical Aperitif

Krugman Wins Nobel Prize for Economics

STOCKHOLM (Reuters) — The American economist Paul Krugman won the 2008 Nobel prize for economics for bringing together analysis of trade patterns and where economic activity takes place, the prize committee said on Monday.

The Royal Swedish Academy of Sciences said the prestigious 10 million crown ($1.4 million) prize recognized Mr. Krugman’s formulation of a new theory to answer questions driving world-wide urbanization.

“He has thereby integrated the previously disparate research fields of international trade and economic geography,” the committee said in its statement.

For an enlightening contrast between Paul Krugman and fellow New York Times columnist Thomas Friedman (we'll leave David "Iraq is the Battle of Midway in the war on terror" Brooks out of it), see Tom Tomorrow.

Congratulations, Professor.