Krugman Wins
Posted by Josh Wright on October 13, 2008
Here’s the announcement. The Prize is for his “analysis of trade activity and location of economic activity.” Tyler Cowen has a lengthy write up with lots of links and information. The WSJ article is here. Here’s Krugman in the NYT:
“There was something very beautiful about the old existing trade theory, and its ability to capture the world in a surprisingly simple conceptual framework,” Mr. Krugman said. “And then I realized that some of the new insights coming through in industrial organization could be applied to international trade.”
Tyler writes that “this was definitely a “real world” pick and a nod in the direction of economists who are engaged in policy analysis and writing for the broader public.” I hope so. That would be a good thing. Whatever one thinks of his political commentary, Krugman’s contributions to economics place him on the list of deserving candidates though I admit that I (now obviously incorrectly) thought that current events made him less likely to win this year. But I’m still very disappointed that Alchian and Demsetz didn’t win. It gets worse. I think I owe Geoff dinner again as the result of his courageous gamble to take “the field” against my pick yet again.
3 Responses to “Krugman Wins”
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Blake said
Now I feel bad for using his International Trade textbook as an emergency ice scraper for the past 3 winters. Perhaps now I can take it out of my trunk and put it on a respectable shelf… what’s left of it at least.
geoffrey manne said
Something a bit classier this year? Pollo Rico, perhaps?
Josh said
Fair enough. But just wait til next year …