Monday, 13 October 2008

Krugman's Nobel Prize

The decision to give Paul Krugman the Nobel Prize in economics is the surest indication yet that the world is starting to swing away from the neo-liberal economics that have dominated the world for the past the three decades. I interviewed Krugman once, and I liked him. He's an intelligent man, and his column in the New York Times is always readable. But he is, for an economist, extreme in his anti-market views. The credit crunch is going to make that fashionable. But I suspect we'll pay a price for it in the long run.

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