Paul Krugman got the Nobel Prize in economics.
I have to admit, I thought it was a joke when I read it. It is an obviously political pick. For years Krugman has been nothing but a political hack, pounding out incoherent columns that at times run counter to the theories and ideas that he relied on to become the famous intellectual that he is today.
In 1997 picking Krugman might have made sense, he was riding high on a lucky call.  The Asian Flu ended the Asian miracle and Krugman, who had written an article predicting a meltdown years before it happened, was hailed by the press as the soothsayer ignored by Caesar.
Wether you agree with him or not about the causes of that particular meltdown, you can see why the Nobel committee made their pick. He is, probably the world’s most famous living economist.   And he is, while a nutter behind the typewriter, also pretty good.
I love to read about economics, particularly about economics of scale and globalization, but I’m no expert. I love the history of disasters. I think Krugman’s decent into pure bullshit is a shame, he’s the economist’s version of Eric Roberts.
Comment by cranky-d on 10/13 @ 6:34 pm #
These days the Nobel seems to be more a prize for being a progressive than anything else. I thought that was limited to the Peace Prize, but I guess they’re branching out.
Comment by Mr. Whoopsies on 10/13 @ 7:19 pm #
‘Krugman’ and “Nobel Prize’ go together as well as ‘aardvark’ and ‘lollipop’ …
Comment by McGehee on 10/13 @ 7:38 pm #
So the econ prize is being awarded now by the same gang of idiots as the peace prize?
Good to know.