Paul Krugman Wins Economics Nobel. "Mr. Krugman received the award for his work on international trade and economic geography. In particular, 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.’ He has developed models that explain observed patterns of trade between countries, as well as what goods are produced where and why. Traditional trade theory assumes that countries are different and will exchange different kinds 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."
1 comment:
xatzrhwDo you think that the country is ready to have a Nobel Prize winning economist as an economic advisor to the president, or should we just go with the guy who said that we were all a nation of whiners?
Can't wait to see how the republicans spin this one.
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