“Nobel” Krugman

Neo-Keynesian economist Paul Krugman has been awarded this year’s Bank of Sweden-funded Nobel Memorial Prize in Economic Sciences (the “Economics Nobel”).

Krugman calls advocates of the Gold Standard “gold bugs”, not unlike Keynes and his views on gold (it is a “barbarous relic”), and he supports universal health care – “socialized medicine”. But he did provide a socialized solution to the current financial crisis – recapitalizing the banks is the logical thing to do, he said in late September (and that’s what the British have done; the ROTW will follow)…

Well, he’s won the prize. That’s all.

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