Via Don McArthur, I see that Paul Krugman has won the Nobel Prize. Congratulations, Professor!
The prize is for economics and not for his recent blog and op-ed work at the NYT, though there are plenty of reasons why you might make that mistake. (*cough*)Pulitzer(*cough*)
There's a good summary of his work on the Financial Times web site. Had to swipe the last bit:
... although even his early writing betrayed a wit and clarity not common amongst economists: he wrote, in 1978, "A theory of interstellar trade", commenting that it was "a serious analysis of a ridiculous subject, which is of course the opposite of what is usual in economics."
See Liam Halligan for a nice comment. For more details and a bunch of links related to his economic work, visit Tyler Cowen.
And last second-to-last but not least, read Krugman's own explanation of what he won for.
Lastly, I think nothing better illustrates what a good guy Krugman is than viewing his own blog announcement, not to mention the next thing he had to say about it.
Pure class.
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