WASHINGTON: Krugman is known as a virulent critic of president George W Bush through his articles in the New York Times. He is author of dozens of books and several hundred articles, primarily about international trade and global finance and was known as creating ‘new economic geography’. Announcing the award the Nobel Jury said it was for “analysis of trade patterns and location of economic activity” and a theory that determines effects of free trade, globalisation and forces behind global urbanisation.

Born February 28, 1953, in Long Island, New York state, Krugman gained his PhD at the Massachusetts Institute of Technology (MIT) and is currently professor of economics and international affairs at Princeton University. He also taught at Yale University, the London School of Economics, Stanford, and MIT. Among his best-known works are Peddling Prosperity and International Economics: Theory and Policy. He is also known for his bi-weekly columns in The New York Times, in which he often skewers the Bush administration’s foreign and domestic policies. He also writes monthly columns in Fortune Magazine and Slate. He has served on the US Council of Economic Advisers and received the prestigious John Bates Clark medal in 1991.