Paul Krugman, Princeton econ professor and NYT columnist, wins a nobel:

Mr. Krugman received the award for his work on international trade and economic geography. In particular, the prize committee lauded his work for "having shown the effects of economies of scale on trade patterns and on the location of economic activity." He has developed models that explain observed patterns of trade between countries, as well as what goods are produced where and why. Traditional trade theory assumes that countries are different and will exchange different kinds of goods with each other; Mr. Krugman's theories have explained why worldwide trade is dominated by a few countries that are similar to each other, and why some countries might import the same kinds of goods that it exports.
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"For economists, this is a validation but not news. We know what each other have been up to," Mr. Krugman said. "For readers of the column, maybe they will read a little more carefully when I'm being economistic, or maybe have a little more tolerance when I'm being boring."

Besides his academic work, Krugman also deserves praise and thanks for his analysis of more immediate economic debates. From the fight to save Social Security to his analysis of candidates' health care plans to his foresight into our current crisis, trusting Krugman's perspective has always proved a good bet.

Congratulations to Professor Krugman.