Economics often has an unfair reputation. In the public mind, economics is conflated with one of two things — either economists are talking about forecasts of the macro-economy, or talking about finance.

People often wonder what use are economists. In terms of climate change, this is a particularly appropriate question.

Academics can be dismissive of the concerns of the popular media. But when it comes to the growth of the super-rich, the tabloids may have gotten it right.

PAUL KRUGMAN, a New York Times columnist and harsh critic of the Bush administration, has won the Nobel economic prize for his analysis of how economies of scale can affect trade patterns and the location of economic activity.