Paul Krugman Wins Nobel Prize for Economics
Congratulations!
Wow, that's awesome.
I have two interesting Paul Krugman stories, both of the brush with greatness variety.
The first was from back in 2004. I had just recorded a segment for Wall Street Week at a remote studio in midtown, when I literally run into him -- collide -- sending my papers flying everywhere.
The second story is even less significant. I have the unique privilege of being the first link in his first blog post.
>
Nobel winning paper:
The Role of Geography in Development
Paul Krugman
April 1998
http://www.worldbank.org/html/rad/abcde/krugman.pdf
>
Previously:
So Paul Krugman and I are chatting . . . (March 10, 2004)
http://bigpicture.typepad.com/comments/2004/03/so_paul_krugman.html
Look Who's Blogging: Paul Krugman (September 21, 2007)
http://bigpicture.typepad.com/comments/2007/09/krugmans-bloggi.html
Monday, October 13, 2008 | 07:35 AM | Permalink
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Excellent! I love Krugman although I think he is sometimes way too wimpy on TV. Now that he has won the Nobel, then maybe he can more forcefully put his right wing adversaries in their place, because as anyone who has done business on an international level knows, pure laissez faire sucks.
Then again, we all thought Scholes and Merton were the sh*t right before LTCM blew up.
Posted by: CNBC Sucks | Oct 13, 2008 8:04:01 AM
Stickin it to the Bushies! But, we all know all Europeans are socialists.
Posted by: Mike in NOLa | Oct 13, 2008 8:13:04 AM
nobel prize is overated poppycock. jimmy carter won it.....myron scholes. didn't they even give it to arafat
Posted by: harold hecuba | Oct 13, 2008 8:14:38 AM
"development of industrial clusters" is that where you begin to:
1> create a new important factory in a region
2> trade against the old and expiring important factory region
3> shutter that old and expiring factory
4> buy up depreciated land and property
5> tear down depreciated buildings with desperate labor
6> time frame 23 years; TIF runs out; goto 1
Posted by: Greg0658 | Oct 13, 2008 8:25:52 AM
Expect the usual "the Nobel Prize is just left-wing poppycock." This is the prize in Economics, not the Peace Prize.
Posted by: georgia pig | Oct 13, 2008 8:31:31 AM
Thank God he didn't win it for his "work" in his NY Times columns.
Posted by: Mace | Oct 13, 2008 8:33:18 AM
Yayyy! This is almost as exciting as Kanye West and Britney getting awards on MTV! This will definitely make the financial meltdown just a little more sweeter, don't ya think???
Posted by: Brian | Oct 13, 2008 8:43:03 AM
As an academic Krugman is unoriginal and hardly outstanding, both in methodology and subject matters.
As a political and "economic" columnist he is, at best, a party hack. Praising and denouncing the same policy depending on its proponent.
And yes, the Nobel prize is for socialists. Friedman only got it for helping develop witholding taxes, Hayek for being "pragmatic" enough to praise the Welfare State in his more widely circulated books (not his research, but hey! noone reads that...)
Posted by: andy | Oct 13, 2008 8:43:58 AM
Krugman was awarded in 2004 with the prize Príncipe de Asturias of Social Sciences in Spain. An important award.
Posted by: Joaquím Ricarte | Oct 13, 2008 8:44:17 AM
Disheartening. Krugman ceased to be a legitimate economist long ago, and is now just another socialist sounding-board.
Posted by: Speedmaster | Oct 13, 2008 8:47:12 AM
Awesome! First time I've heard of a Nobel Prize recipient (you don't actually "win" a Nobel Prize) before they receive it.
Congrats from Stockholm! Looking forward to having ya.
Posted by: Upandaway | Oct 13, 2008 8:49:23 AM
Re: Nobelprize is for socialists
Haven't you heard? We're all Socialists now. Next year they'll give it to Paulson and Bernanke.
When things get tough everyone's screaming for "poppy!" anyway. Or "China!", in your case.
Posted by: Upandaway | Oct 13, 2008 8:53:44 AM
"Expect the usual "the Nobel Prize is just left-wing poppycock." "
The Nobel Prize for economics isn't a real Nobel Prize. It was invented in the 50's by the Swedish Federal bank (Riksbanken) in memory of Nobel. Of all the Nobel Prizes awarding Sciences, this is clearly the weakest. When Scholes and Merton tried to make theory meet reality they created Long-Term Capital Management!
Posted by: AN | Oct 13, 2008 8:56:57 AM
It's amazing how all these rather mean spirited conservatives emerge from the woodwork to trash Krugmann because basically they don't like his columns in the NYT. I'll bet they have zero knowledge of his work on economic theory notably in the monetary area but as ever with the not very knowledgeable they rely on their prejudices. It's a sad commentary on the the state of the conservative mind in 2008 which is also on full display in the presidential election. Ideology basically trumps all.
Posted by: John(2) | Oct 13, 2008 8:59:12 AM
Mommy, what's a socialist?
Well Johnny, for many people, it's just another word for someone you don't agree with.
Posted by: Mr. Yablinka | Oct 13, 2008 9:00:12 AM
Well that's awesome I really like Krugman. His writing style is fresh, even in his academic papers. They are much more accessible to me as an undergraduate than most other authors.
Posted by: Greg | Oct 13, 2008 9:01:16 AM
I cant beleive they are giving a nobel price for economics this year??? WTF? How can they dare ?
Posted by: pidhi | Oct 13, 2008 9:06:13 AM
Screw Krugman.
Conservatives should show no respect to any scientific achievement whatsoever. Long live the Stupid Party!
Posted by: Ben Stein | Oct 13, 2008 9:10:00 AM
I know this has been used quite a bit recently, but this isn't an Onion article, is it? Seriously, I just got back from taking the Hound for a stroll, it really was my first reaction..
past that, see:
Posted by: AN | Oct 13, 2008 8:56:57 AM
Posted by: Mark E Hoffer | Oct 13, 2008 9:16:17 AM
Congratulations to professor Krugman.
I agree w/John2. It's quite remarkable how disagreeable and unpleasant conservatives really are. Thankfully, their reign of error is coming to an end.
Posted by: weinerdog43 | Oct 13, 2008 9:16:31 AM
Hope to see his sig on my dollar bills in a year or two.
Posted by: lampwick | Oct 13, 2008 9:21:13 AM
I'm thinkin' it's gonna be a while before a supply sider gets it.
Posted by: MarkD | Oct 13, 2008 9:24:33 AM
"didn't they even give it to arafat"
Indeed...along with Menahem Begin.
Makes you wonder, no?
Posted by: Francois | Oct 13, 2008 9:27:45 AM
Hey, at least they didn't give it to Fama.
Posted by: John from Concord | Oct 13, 2008 9:34:04 AM
Isn't it unbelievable, yet to be expected?
Just on this blog, the wingnuttery apostles just can't help themselves.
They MUST find a way, any way possible and impossible to denigrate Prof. Krugman lifetime work, just because his politics goes against their most cherished beliefs.
Moreover, the sickening parochialism oozes the smelly pus of narrow and limited intellect. By reducing the academic contributions to accusations that, since the Europeans can't be anything but (goddamned) "socialists" (whatever the hell it means) said Europeans ought to be "against us" (thank you for speaking for ALL of us...morons!) by granting a Nobel Prize to "unoriginal and hardly outstanding" work.
You guys (you know who you are) truly suck big time for not having the minimal honesty and decency to separate the man from his work.
Speaks volumes about why politics has become so dysfunctional and poisonous in this country. One wonders by which miracle the average American right-wing voter can think.
P.S. Don't get me started on the left-wing voter either. Only the extreme centrists (read:reality-based) ought to rule in these very challenging times.
Posted by: Francois | Oct 13, 2008 9:42:05 AM
