Krugman Wins Economics Nobel

I was talking with a colleague last Friday and the talk gravitated to who is going to win this year’s Nobel Memorial Prize in Economic Science. I said I have a feeling Professor Peter Phillips of Yale University might win it for his work in time series analysis. It did dawn on me though that some economists have won the prize for related work, so naturally, we had to come up with a different name. We came up with Professor Paul Krugman of Princeton University. My response went like this, sure he will win the Nobel prize but I don’t think it will be this year. He is too young to win it. Was I wrong! Congratulations to Paul Krugman for winning this year’s Nobel Prize in Economics.