Monday, October 13, 2008

 

Krugman wins Nobel!

Woohoo! Paul Krugman has been awarded the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.

Krugman blogs, "An interesting thing happened to me this morning . . . " Reuters story here.

I depend on Krugman's twice-weekly New York Times column to explain what the economics news of the day means. I've been following him closely for years. He's been a lone voice in the mainstream media -- for several years now -- explaining how the subprime bubble could end in disaster.

I can't imagine a more timely announcement. I'm not equipped to judge the technical aspects of his work at which the Prize was aimed. Now the Prize elevates Krugman from liberal pundit to sage. [Can you imagine Dowd or Kristol as Nobel Laureate?] The weight now added to Krugman's insights and advice will redound to the benefit all 7 billion of us. We've won!!!

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