Paul Krugman wins Nobel Prize for economics

Paul Krugman, New York Times columnist and University of Princeton professor, has been awarded this year’s Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. His speciality is spatial economics, and one might have thought that he would be strong on Ricardo’s Law of Rent and possibly even an advocate of land value taxation. But whilst, unusually amongst economists, he puts an emphasis on the influence of geography on economics – which is why he has been awarded his prize – he has come at the subject from what appears to be a Keynesian direction and seems not to have picked up on the concepts presented by this campaign and similar bodies. You can read about his ideas here and follow his blog here – you may feel inclined to engage with him by responding with comments.