Pursuit of Truthiness

my gut tells me I know economics

Krugman’s Nobel

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Paul Krugman has worked in academia, government, and policy, written several popular books and many technical articles.  But despite all that, he is known primarily for one thing- New York Times columns chronicling the onset of his own Bush Derangement Syndrome.  Inevitably, most non-economists and some economists will see the Prize as a political statement, which is perhaps what the Nobel Committee intended.  I don’t think many economists would argue he didn’t deserve it, but certainly the timing (Bush’s last year in office) suggests the Committee may have been thinking about more than monopolistically competitive trade.

Some Links:

Libertarian Bryan Caplan explains why Krugman is the best popular left-wing economist he could ask for.

Tyler Cowen’s thoughts with lots more links.

Paul Krugman’s article, “How I Work

My favorite quote from Krugman’s above article:

“What I began to realize was that in economics we are always making silly assumptions; it’s just that some of them have been made so often that they come to seem natural. And so one should not reject a model as silly until one sees where its assumptions lead. “

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Written by James Bailey

October 14, 2008 at 3:56 pm

Posted in Economics, Politics

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