The Nobel Economics belongs to the Americans

The Royal Swedish Academy of Sciences yesterday announced that American economist Paul Krugman (pictured) is the owner of the 2008 Nobel Prize in Economics for his work on analyzing economic models and location of menstruation world. This is the 8th year in a row that American economists won this prestigious award.

According to the Royal Swedish Academy of Sciences, Mr. Krugman gave a new theory that defines the effects of trade liberalization and globalization, as well as the dominant forces behind the urban process. chemistry in the world.

Krugman's approach is based on the assumption that many goods and services can be made cheaper. Meanwhile, consumers demand a diverse supply of goods. As a result, the goal of small-scale production for a local market is replaced by large-scale production for the world market, where companies have similar products competing with each other.

Mr. Krugman was born in New York on February 28, 1953, Mr. Krugman received a bachelor's degree from Yale University in 1974 and a Ph.D. from the Massachusetts Institute of Technology (MIT) in 1977. He is currently a professor of economics and affairs. international subject at Princeton University and a member of the US Economic Advisory Council. He has taught at Yale University, MIT and London School of Economics. He is also a columnist for The New York Times Newspaper and author of many books and hundreds of articles on international trade and global finance. He is a strong critic of the administration of President Bush and the Republican Party. According to him, it was the enthusiasm for deregulation and loose financial policies that caused the current financial storm.

With the announcement of the Nobel Prize winner, the "Nobel season" this year has closed. The awarding of Nobel Prize for Medicine, Chemistry, Physics, Literature and Economics will be held on December 10 in Stockholm (Sweden). The Nobel Peace Prize will be awarded in Oslo (Norway) on the same day. The value of each prize is $ 1.4 million.