Paul Krugman occupies two spheres in the American intelligentsia. In one, he is a New York Times op-ed columnist known for his barbed opinions about President Bush's policies. In the other, he is a Princeton University economist famous for his research on international trade and finance.
On Monday, it was Krugman the academic who was awarded the Nobel Memorial Prize in Economic Sciences for his study of international trade and the effects of globalization.
In announcing the prize, the Royal Swedish Academy of Sciences cited in particular Krugman's work nearly 30 years ago in advancing a theory on trading patterns and why certain nations produce what they do.
Perhaps owing to Krugman's columnist perch, he was barely asked about his research Monday during a news conference. Instead, he was asked about the U.S. government's $700-billion financial system bailout, about the causes of the credit crisis and even about whether he would consider taking a Cabinet post in the next presidential administration. (He said no thanks.)
He noted that he was naked and about to shower when his phone rang with the news from Stockholm.
Krugman has been fiercely critical of Bush administration policies in his columns for the Times.
When asked a question about China on Monday, he said: "I've been spending my last few years trying to save my own damn republic."
Some economists wondered whether Krugman's politics might have somehow swayed the Swedish Academy. Its selections in the past have been viewed as politically motivated, and Krugman's selection came just weeks before a U.S. presidential election in which Bush's legacy is playing no small role.
Krugman, at age 55, is still relatively young in economist years.
"They could have waited and nobody would have asked that question," said Tyler Cowen, a professor of economics at George Mason University who has closely followed Krugman's research. "It's fair speculation that in part they are making a political statement. Krugman does deserve it, though. It's not only a political statement."
Robert Solow, a 1987 Nobel laureate in economics and Krugman's former professor at MIT, said, "I don't think it's true for one minute. I wouldn't be surprised if next year it was a conservative who wins. I really think that it's pure coincidence, and there is no reason at all to suppose his columns had any role in this choice."
