Paul Krugman Wins 2008 Nobel for Economics
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GroundedSailor
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- Feb 18, 2001
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I actually agree with Krugman here. When Lehman was allowed to collapse, that broke the chain link of the derivatives that Lehman was a part of.
Now that they have seen that there is about 340 billion dollars of 'losses' that some other institutions have to pay out now, it will be interesting to see who those end up to be. I wish I had a list.
Exactly. They sacrificed Lehman as a test case. When they saw how much damage it caused the financial system, they promptly bailed out AIG and arranged for WaMu to be bought by JPM.
Just a bitter ex-Lehman employee... :| (although I left 6 mos ago)
Just a bitter ex-Lehman employee... :| (although I left 6 mos ago)
Cut and paste from my thread when I missed this one:
The first person I've looked to for analysis on economic issues is Paul Krugman.
He's a strong critic of Bush and right-wing economic policies, and a proponent of progressive policies.
He's done much to debunk many of the myths and errors of the right on econmics.
Congratulations to him for winning the Nobel Prize for 2008 in Economics.
I'd suggest this event get some people, especially on the right, to check out his writings.
His "The Conscience of a Liberal" would be a great pick.
On his book earlier this decade, "The Return of Depression Economics", a Publishers Weekly review said:
What an important message for our world today, when economics has so much relevance to the well being of the human race, but is so little understood and so much abused.
The first person I've looked to for analysis on economic issues is Paul Krugman.
He's a strong critic of Bush and right-wing economic policies, and a proponent of progressive policies.
He's done much to debunk many of the myths and errors of the right on econmics.
Congratulations to him for winning the Nobel Prize for 2008 in Economics.
I'd suggest this event get some people, especially on the right, to check out his writings.
His "The Conscience of a Liberal" would be a great pick.
On his book earlier this decade, "The Return of Depression Economics", a Publishers Weekly review said:
What an important message for our world today, when economics has so much relevance to the well being of the human race, but is so little understood and so much abused.
Or, Goldman Sachs CEO Paulson got rid of Goldman Sachs competitor Lehman, but prevented the bankruptcy of AIG that would have cost Goldman Sachs $20B, a decision reportedly made while the current CEO sat in his office. It's hard to know the motive, since you can speculate either way.
Guys, don't be fooled by the Nobel prize in economics. Its actually the Bank of Sweden that gives out this prize and like any central bank their intention is to nominate economists that still have ties to Keynesian economics.
on the pages with worthless hacks like, well... almost every other NYT regular columnist, I actually look forward to reading Krugman's columns.
could have sworn he already won a nobel for economics, though.
could have sworn he already won a nobel for economics, though.
lol wtf he's the worst mainstream talking head economist out there. He's the worst kind too. But we know Nobel awards to people like Arafat, and nominate Hitler.
On the Lehman bk, on the outside it made no sense to let Lehman go bk, but "rescue" everyone else. It's plausible that they did it to send a message that they will be letting the really really bad banks go away.
mostly I think of Dowd, Rich, and Kristol when I think of the hacks... Bob Herbert a little bit too, but I stopped reading african american columnists writing about the election during the primaries.
but mostly Dowd... I don't get how someone who spends so many words saying so little could get paid so much.
putting Krugman and Kristol in the same paragraph is an insult to paragraphs
Kristol is the definition of a partisan hack
"Palin isn't qualified" - then, after she's picked to be VP - "Experience is overrated, great pick"
Kristol is the definition of a partisan hack
"Palin isn't qualified" - then, after she's picked to be VP - "Experience is overrated, great pick"
LOL I just knew something stunk on this one.
Partisans, feel free to correct me, but this is all based on his work about oh 15-20 years ago?
He hasn't been an economist for years and is nothing more than a political commentator now.
Partisans, feel free to correct me, but this is all based on his work about oh 15-20 years ago?
He hasn't been an economist for years and is nothing more than a political commentator now.
I have to concur. I don't read krugman regularly any more since the NYT decided to charge for access to editorials Now that times select is dead I still can't be bothered to read them regularly. But Krugman is good and Maureen Dowd is a waste of flesh and ink.
GodlessAstronomer
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- Oct 27, 2007
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That's not at all uncommon in the world of Nobel prizes. Theories are confirmed, ideas become mainstream over time. Sometimes it's difficult to recognise someone's genius without the benefit of hindsight.
GroundedSailor
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- Feb 18, 2001
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He has been active in economics and is currently a professor of economics at Princeton. He has published a lot of papers - there's a whole list out there somewhere - but he has become an author of economic issues with books targeted towards serious economists as well as lay people. I suggest reading The Conscience of a Liberal to understand how he takes economics theories and explains them in plain English.
I've highlighted his works in the last 7-8 years - taken from here:
http://en.wikipedia.org/wiki/Paul_Krugman
my understanding is that he still actively writes academic economist works separately from his writings as a columnist.
Here is the comment on this issue from the Wall Street Journal.
"Many academic economists said it has always been a question of when Mr. Krugman would win a Nobel rather than if he would win it."
http://online.wsj.com/article/...309.html?mod=djemalert
"Many academic economists said it has always been a question of when Mr. Krugman would win a Nobel rather than if he would win it."
http://online.wsj.com/article/...309.html?mod=djemalert
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