Return of the public intellectual!

My favorite political economist, Paul Krugman, has won The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for 2008. He wins the Prize for his "analysis of trade patterns and location of economic activity". As Justin Wolfers rightly points out, Krugman is a "true public intellectual", unafraid of real-time policy advice, with its attendant risks of being proved wrong.

I am not surprised by the choice, especially given the ongoing financial crisis, and the active role that Paul Krugman has played in forming and shaping opinions, both through his NYT op-eds and his blog.

Links here, here, here, here, here, here, here, here, and here.

Update 1
Paul Krugman explains "New Trade Theory" here. The full paper on increasing returns and economic geography and scale economies and product differentiation are found here and here.

Update 2
Avinash Dixit describes Krugman's contributions and predicts that Paul Romer, Grossman and helpman will win the Nobel next year for their endogenous growth theory.

Update 3
Nobel lecture slides available here. Nobel lecture here.

Update 4
Nobel lecture available here.

Update 5
New Yorker profiles Paul Krugman.