Why Paul Krugman deserved the Nobel Prize.

Not as Bad as You Thought by Arnold Kling, in Reason Magazine:

Paul Krugman received a Nobel Prize for his contributions to international trade theory. Even for those of us who disagree with his political views and see little value in his recent work as a columnist, this award brings neither surprise nor disappointment.

Krugman’s Posthumous Nobel

"Krugman’s Posthumous Nobel" by Donald Luskin:

Prior to 2008 the Nobel Prize had never been awarded posthumously. So great minds such as John Maynard Keynes and Fischer Black never received the coveted award. But all that has changed. This year, the prize for economics is going to Paul Krugman, an economist who died a decade ago.

This living Paul Krugman can’t be the same person as the dead economist. The dead economist wrote eloquently of the supreme importance of globalization and international trade as engines of prosperity. But the living public intellectual remains silent on these subjects when the Democratic party’s nominee for president threatens to abrogate the North American Free Trade Agreement.

These days Krugman’s liberal agenda always takes precedence over economic principle ....

Further reading: "An open letter from Joe the Plumber to Paul Krugman"

Krugman’s prize

"Krugman's prize" by Russell Roberts:

Everyone has their own least favorite Krugman quote. There was his disrespectful treatment of Milton Friedman after Friedman's death. There was his broken window analysis of the economics of 9-11. Today, now that he has won the Nobel Prize, I'd like to remember the quote that made it clear to me that the economic way of thinking was no longer of concern to him, when he wrote in the New York Times Sunday Magazine:

Although America has higher per capita income than other advanced countries, it turns out that that's mainly because our rich are much richer. And here's a radical thought: if the rich get more, that leaves less for everyone else. That statement -- which is simply a matter of arithmetic -- is guaranteed to bring accusations of ''class warfare.''

From Krugman Watch:

Zero-sum. So, Paul, who got poorer as a result of your prize money?

Nobel Prize in Economic Sciences 2008

"for his analysis of trade patterns and location of economic activity"


Paul Krugman