Krugman wins Nobel for economics

Krugman, pictured in 2006 Krugman is a fierce critic of President George W Bush

American academic Paul Krugman has won this year's Nobel economics prize, it has been announced.

The Royal Swedish Academy of Sciences said the award recognised Mr Krugman's analysis of trade patterns and where economic activity takes place.

It said Mr Krugman, 55, a Princeton University professor, had formulated new theories that answered questions about free trade and globalisation.

This has many ramifications. Krugman is the first media figure to also be a Nobelist! He is also an obvious candidate for a major role in the Obama administration because he is an economist with an unusual sense of equity and an ability to talk with the public.

. His economics has a moral tinge that surprises me since I think of this price as the cold and heartless award!

I was upset with his support for Hillary-Care, but this award could pout him in a unique positions to 'splain to the people why national health care in a time like this is exactly the thing to do.

I wonder ..

1. will he still be a public figure? a speaker on cable news and a columnist at NYT?

2. Will he assume a role in the obama admin? Perhaps Chair of the Council of Economic Advisers?

Few people realize that BHO is already closely tied to the folks at the Chicago/Friedmann school. A Council that included those pragmatists with Krugman's social point of view could have an immense impact.

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