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Current events have led me to focus on Krugman's analysis of the current financial crisis in this series, but another current event has led me to mention another event. Paul Krugman was just awarded the Nobel Prize for Economics. (Well, the official name of the prize is the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.) Do I know how to pick 'em or what?
Of course, when the world is in the middle of a major financial meltdown, you can't get away from the crisis entirely. In today's AP article on the award, Krugman let go with this quote:
This is terrifying. I had never thought that in my lifetime I would see anything that resembles the Great Depression, but this in fact does.There are tough times ahead my friends. Tough times.
