Paul Krugman wins Nobel Prize

Paul Krugman, whose commentary I sometimes publish here on Bubble Meter, is the winner of the 2008 Nobel Prize in Economics. He was already the winner of the 1991 John Bates Clark Medal, which is actually harder to win than the Nobel. About 40% of John Bates Clark Medal winners have gone on to win the Nobel Prize.

Krugman was one of the few economists to recognize the housing bubble before its peak.