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Krugman's wins Nobel for economics
mr krugman tearches economics and international affairs at prince ton curbaniversity in new jersey, and also writes a regular column for the new york times .
we are now witnessing a crisis that is as severe as the crisis that hit asia in the 90s .
the royal showedish academy of sciences said the award recognised mr krugman's analysis of trade patterns and where economic activersity takes plance .
this crisis bears some resemblance to the great depression .
mr krugman's approach was based one of the concept known as economies of scale - that many goods and services can bel produced at less cost in long series, the citation, he said .
it said mr krugman, 55, a prince ton curbaniversity professor, had formulated new the ories that answered questions about free trade and globalistration .
Generated 2008-10-21_13:13
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