Monday, October 13, 2008

2008 Nobel Prize in Economics for Paul Krugman

Congratulations to Paul Krugman for receiving this year's Nobel Prize in economics. I have criticized him several times here because of his mindless support for liberalism, but much of his work belies his political leanings, as evidenced by the reasons why he received the Nobel Prize this year "for his analysis of trade patterns and location of economic activity" where he shows the importance of geography to economic development, and relates it to the importance of free international trade. "He has thereby integrated the previously disparate research fields of international trade and economic geography," according to the Nobel Committee. So how can someone who understands the benefits of free trade be a Leftist on the national front? Apparently he's comfortable with cognitive dissonance. I just hope the economist in him takes note of what's happening if and when Obama becomes President and overrides his mindless partisanship. He needs to learn that the kinds of trade barriers within a country promulgated by socialists and interventionists are as bad as trade barriers among countries.
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