Congratulations, Paul - Krugman wins Nobel Prize in Economics

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Submitted by UtahOwl on Mon, 10/13/2008 - 8:34am.

From Bloomberg.com:

While Krugman found broader fame with his newspaper columns attacking Bush, he gained his reputation in economics by arguing countries could gain a competitive advantage through subsidies to key industries. His research helped explain how the development of large-scale production for the world market has attracted more people to cities and led to higher wages.

Robert Solow, a 1987 Nobel laureate who once taught Krugman...said globalization shows the value of Krugman's work.

``As multinational corporations become more prominent, it's important to have a way of thinking about trade that gives them adequate attention,'' he said. ``As industry and modern economic activity spreads around the world, the question of what goes where and whether the world can get locked into production that is not the most efficient is going to become extremely important.''

...some comments from Krugman blog today, Oct 13

#818 On Mon, 10/13/2008 10:04am UtahOwl said,

I counted at least a half-dozen suggestions that Prof. Krugman would make a great Secretary of Treasury in an Obama Administration. Gets my vote, you betcha!

See what you get when you extol the virtues of the Swedes’ bank bailouts? Congratulations.
— Posted by Frank Burns

This prize could not come at a better time. For you I am happy. For the nation I am ecstatic.
— Posted by Gregg

Congratulations!! I’m very much looking forward to reading “Nobel-Prize-winning economist Paul Krugman today criticized John McCain . . ."— Posted by marguerite

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A Toast!

#819 On Mon, 10/13/2008 10:51pm John Lee said,

I hoist my "Paul Krugman's Army" coffee mug in celebration.

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Grateful for Krugman

#821 On Tue, 10/14/2008 1:25pm miriam said,

I am happy for Krugman; he deserves this.

If there were no other reasons, he earned that Nobel for helping me - finally - to understand, just a little bit - economics. He's so good, even my 15-year old son listens when Krugman is on TV. My son also thinks it's cool when he's sitting for the camera in business attire on top while wearing shorts or jeanson the bottom!

Keep on hoping!
Miriam

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I agree

#826 On Wed, 10/22/2008 9:58am notaprincess said,

I heard Krugman being interviewed yesterday on NPR. I was impressed with his "down to earth" explanation of the current financial crisis.

I do hope the Prsident Obama seeks the wisdom of Professor Krugman.

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