Wednesday 18 Jul 2018 | 22:58 | SYDNEY
Wednesday 18 Jul 2018 | 22:58 | SYDNEY

Kudos to Krugman


Mark Thirlwell

14 October 2008 09:29

Paul Krugman has won the 2008 Nobel Prize in Economics for his work on trade and economic geography. And yes, for any pedants out there, I know technically it’s ‘The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2008’, not that the distinction really matters. 

For what it’s worth, I think the award is well-deserved.  Krugman has long been one of my favourite economists (at the moment I am enjoying re-reading his short book, The Return of Depression Economics.) Still, if this story in the Guardian is correct, I can’t help but feel a small pang of disappointment. Wouldn’t it have been just a little bit funny if the award had gone to Eugene Fama, father of the Efficient Markets Hypothesis, in the year of the world’s biggest financial disaster since the 1930s?  I somehow feel a golden opportunity has been missed...