Paul Krugman wins Nobel
writingcrossing
2008-10-13
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Paul Krugman wins Nobel Prize
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Paul Krugman, a professor at Princeton University and an Op-Ed columnist for The New York Times, was awarded the Nobel Memorial Prize in Economic Sciences on Monday.
“It’s been an extremely weird day, but weird in a positive way,” Mr. Krugman said in an interview on his way to a Washington meeting, according to the New York Times. He said he was mostly “preoccupied with the hassles” of trying to make all his scheduled meetings today and answering a constantly-ringing cell phone.
Mr. Krugman was awarded for his work on international trade and economic geography. The prize committee lauded his work for “having shown the effects of economies of scale on trade patterns and on the location of economic activity. Traditional trade theory assumes that countries are different and will exchange different types of goods with each other; Mr. Krugman’s theories have explained why worldwide trade is dominated by a few countries that are similar to each other, and why some countries might import the same kinds of goods that it exports.
Mr. Krugman wrote his dissertation, however, on international finance, and credits his late MIT professor Rudiger Dornbusch for pushing him to study international trade.
“To be absolutely, totally honest I thought this day might come someday, but I was absolutely convinced it wasn’t going to be this day,” Mr. Krugman said. “I know people who live their lives waiting for this call, and it’s not good for the soul. So I put it out of my mind and stopped thinking about it.”
Mr. Krugman continues to teach at Princeton. Monday’s award is the last of the six prizes and is not one of the original Nobels, but was created in 1968 by the Swedish central bank in Alfred Nobel’s memory. Mr. Krugman was the only was the only winner of the award, which includes a prize of about $1.4 million.
www.EmploymentCrossing.com
Paul Krugman, a professor at Princeton University and an Op-Ed columnist for The New York Times, was awarded the Nobel Memorial Prize in Economic Sciences on Monday.
“It’s been an extremely weird day, but weird in a positive way,” Mr. Krugman said in an interview on his way to a Washington meeting, according to the New York Times. He said he was mostly “preoccupied with the hassles” of trying to make all his scheduled meetings today and answering a constantly-ringing cell phone.
Mr. Krugman was awarded for his work on international trade and economic geography. The prize committee lauded his work for “having shown the effects of economies of scale on trade patterns and on the location of economic activity. Traditional trade theory assumes that countries are different and will exchange different types of goods with each other; Mr. Krugman’s theories have explained why worldwide trade is dominated by a few countries that are similar to each other, and why some countries might import the same kinds of goods that it exports.
Mr. Krugman wrote his dissertation, however, on international finance, and credits his late MIT professor Rudiger Dornbusch for pushing him to study international trade.
“To be absolutely, totally honest I thought this day might come someday, but I was absolutely convinced it wasn’t going to be this day,” Mr. Krugman said. “I know people who live their lives waiting for this call, and it’s not good for the soul. So I put it out of my mind and stopped thinking about it.”
Mr. Krugman continues to teach at Princeton. Monday’s award is the last of the six prizes and is not one of the original Nobels, but was created in 1968 by the Swedish central bank in Alfred Nobel’s memory. Mr. Krugman was the only was the only winner of the award, which includes a prize of about $1.4 million.
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