Paul Krugman Get Nobel Prize in Economics

Washington - U.S. economist, Paul Krugman won the Nobel award in Economics. Professor of the University of Princenton successfully get the prestigious award on the analysis of the pattern of trade.

According to the Board of Nobel Prize Jury, Krugman, 55 years old, successful memformulakan theory that takes into account the effects of free trade and globalization as a factor behind the stimulus urbanization in various parts of the world.

"Krugman's approach is based on the premise that many basic goods and services that can be produced more cheaply in a long series, a general concept known as economies of scale," said Nobel jury, as quoted from the AFP, Mon (13/10/2008 ).

Unlike the traditional trade theory assumes that the differences between countries explain why some countries to export other agricultural products while exporting goods industry. However, Krugman mengklarifikasi theory why all world trade in fact, dominated by countries that do not only have the same condition, but also trade the same product.

Krugman has formalize a new world trade policies that help to explain that globalization tends to be a concentration, both in terms of what made the manufacturing base and where the location. The theory suggests that globalization tends to increase the pressure of city life community, and make people pushed to the center of concentration.

"Krugman theory indicates that the results of this process is that an area can be divided into the city core high and the surrounding environment that are less developed," added Jury.

Krugman is known as a sharp critic President George Walker Bush through various article in the New York Times. He also has published dozens of books and hundreds of articles, teritama on international trade and financial world and known as the spark "New Economic Geography."

Born in Long Island, USA on 28 February 1953, Krugman PhD degree from the Massachusetts Institute of Technology (MIT). He also taught at Yale University, the London School of Economics, Stanford and MIT. In addition to publish two weekly column, Krugman also served as advisor of the Board of the U.S. economy.

What is the response from the New York Times columnist who is productive on this award?

"I am someone who has great confidence to continue working. I hope this award does not change the many Israeli," Krugman said in the interview with Swedish television, shortly after receiving the award,

Years ago, the U.S. trio Leonid Hurwicz, Eric Maskin and Roger Myerson won this prestigious award, because it was considered a pioneer for the trading mechanism, which is intended to make the market more efficient. The Nobel award giving ceremony will be held in Stockholm and Oslo on 10 December.
(Qom / ddn)