Paul Krugman Wins the Nobel Prize in Economics

Via The New York Times:

American economist Paul Krugman won the 2008 Nobel prize for economics for bringing together analysis of trade patterns and where economic activity takes place, the prize committee said on Monday.

The Royal Swedish Academy of Sciences said the prestigious 10 million crown ($1.4 million) prize recognised Krugman's formulation of a new theory to answer questions driving world-wide urbanisation.

"He has thereby integrated the previously disparate research fields of international trade and economic geography," the committee said in its statement.

Rest here. reason Contributing Editor David Henderson on Krugman's The Return of Depression Economics here. Contributing Editor Mike Lynch on why "Krugman may be a smart economist, but he's a stupid columnist" here.