Paul Krugman wins Nobel prize

Paul Krugman has won this year\'s Nobel economics prize. Krugman, professor of economics and international affairs at Princeton University and a columnist for the New York Times, was awarded the $1.4m (810,000) for his contribution to the understanding of international trade.


Paul Krugman has won this year’s Nobel economics prize. Krugman, professor of economics and international affairs at Princeton University and a columnist for the New York Times, was awarded the $1.4m (810,000) for his contribution to the understanding of international trade. His 1979 essay entitled “Increasing returns, monopolistic competition, and international trade” became the basis for new trade theory.