13 October 2008

Krugman Wins Nobel For Economics

Image Credit: Rolling Stone (Good Audio Clip Here)

From the BBC Online:

"Speaking after the announcement of his win, Prof Krugman gave his verdict on current efforts to stem the global financial meltdown, saying: "I'm slightly less terrified today than I was on Friday".

Prof Krugman lectures in economics and international affairs at Princeton University in New Jersey, and also writes a regular column for the New York Times.

He has long been a fierce critic of US President George W Bush's administration, arguing that its economic policies have helped spark the current financial crisis.

The Nobel jury said Prof Krugman's work had led to theories that could help explain the effects of free trade and globalisation and the driving force behind worldwide urbanisation."

I admire Krugman for being consistently truthful and correct before the damage has been done, and in the face of the right-wing hate machine that continues to savage him in spite of it. Folks who speak truth to power are always vilified for doing so.
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