Paul Krugman wins the Econ Nobel

October 18, 2008 at 10:24 am | Posted in economics | Leave a comment
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I gues this is a couple of days late – I’m still backpacking in Northeast India – but I must say I am really pleased Paul Krugman won the “Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel”.

Krugman is one of my favorite columnists at the NY Times, and I regularly read his blog. In particular, I think he has been spot on in terms of identifying the drivers of the current financial crisis. I also think he is absolutely right in claiming that the next president will have to boost  government spending significantly.

I think that the choice is either a deep and lengthy recession – even, perhaps, a Second Depression – or a new New Deal – which may not work either.

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