Princeton University Professor and New York Times columnist Paul Krugman has won the Nobel Prize in Economics. Krugman was awarded the honor for his work on international trade and economic geography, particularly his “having shown the effects of economies of scale on trade patterns and on the location of economic activity.” according to the prize committee. Krugman’s theories have sought out to explain why global trade in a globalized world is still dominated by a relatively small handful of countries.

I’ve read Krugman’s Times column for years and have long admired his valiant efforts at trying to make sense of complex economic issues for ordinary readers. So it’s nice to see someone rewarded for something that is by no means easy, and is more or less unique in the mainstream press of this country. Plus this award isn’t just about bragging rights and recognition. It also comes with more than a little economic stimulus of its own for Mr. Krugman in the form of a $1.4 Million cash award.

You can takepart by checking out Paul Krugman’s blog on the NY Times website to get some more perspectives from the Nobel Laureate.

LINKS:

NY Times: Economix: Paul Krugman Wins Economics Nobel

Bloomberg: Princeton University’s Paul Krugman Wins Nobel Economics Prize

Daily Telegraph (UK): Paul Krugman wins Nobel Economics Prize and Praises Gordon Brown