Want to know the nature of trade between citizens living on planets separated by distances of hundreds of light years?
Read theory of interstellar trade by Krugman
Of course, this is NOT the theory for which Krugman was awarded the Nobel!
The Nobel economics prize was awarded yesterday to Paul Krugman, one of the great popularisers of economic ideas and a trenchant critic of the Bush administration. However, the prize was awarded for work done almost three decades ago in developing what is known as “new trade theory” and “new economic geography”.
Krugman wins Nobel for trade theory
I am a regular reader of Krugman’s column in the Hindu and admire his talent for explaining economics to the common man.
But then there are certain people who don’t consider him to be an economist at all - like this guy. I don’t know the ABC’s of economics to comment on this, but I see that most of them are free-market worshiping libertarian types who resent to Krugman’s “socialist” attempts to support state intervention in areas like health care.
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