Princeton economist and New York Times
columnist Paul Krugman won the Nobel economics prize for his analysis of how economies of scale can affect trade patterns and the location of economic activity. The Royal Swedish Academy of Sciences praised Krugman for formulating a new theory to answer questions about free trade. `What are the effects of free trade and globalization? What are the driving forces behind worldwide urbanization? Paul Krugman has formulated a new theory to answer these questions,` the academy said in its citation.
Columnist Paul Krugman wins Nobel economics prize