NY Times columnist wins Nobel prize for economics

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.

Mr Krugman has consistently criticised the Republican Party in The New York Times, where he writes a regular column and has a blog called Conscience of a Liberal.

He has come out forcefully against John McCain during the economic meltdown, saying the Republican candidate is “more frightening now than he was a few weeks ago” and earlier that the GOP has become “the party of stupid”.