Paul Krugman

Paul Krugman won the Nobel prize for economics for his economic theories on international trade. I like that his column in the NYT are simple to read and understand are not filled with economic jargon but yet he is aware of all the ideas behind the terminology.

Krugman's work looked at on how economies of scale — the idea that as the volume of production increases, the cost of making each unit falls — worked alongside population levels and transportation costs to affect global trade. Krugman's theory was that because consumers want a diversity of products, and because economies of scale make production cheaper, multiple countries can build similar products, such as cars. Sweden builds its own car brands for export and to sell at home, for example, while also importing cars from other countries.

Paul Krugman, whose relentless criticism of the Bush administration includes opposition to the $700 billion financial bailout, won the Nobel prize in economics Monday for his work on international trade patterns.

The Princeton University professor and New York Times columnist is the best-known American economist to win the prize in decades.

The Nobel committee commended Krugman's work on global trade, beginning with a 10-page paper in 1979 that knit together two fields of study, helping foster a better understanding of why countries produce similar products and why people move from the small towns to cities.

Krugman (pronounced KROOG-man) is best known for his unabashedly liberal column in the Times, which he has written since 1999. In it, he has said Republicans are becoming "the party of the stupid" and that the economic meltdown made GOP presidential nominee John McCain "more frightening now than he was a few weeks ago."

Muhammad Yunus

Muhammad Yunus's speech after recieving the Nobel Prize.

Orhan Pamuk & Salman Rushdie

Here is Orhan Pamuk’s speech while accepting the Nobel Prize for literature.

Salman Rushdie was on Charlie Rose last night. His book, Shalimar the clown is out in paperback, so he was discussing it. He writes about Kashmir, because it is like a paradise that has been lost. When he visited their in 1987, he met folk theater people. His book was inspired by their lives. His book deals with universal themes, like a love triangle, death, and a murder. Kashmir was a place where different cultures and religions learnt to get along, similar to what Bosnia and the Middle East used to be like. India is a great success story for religious tolerance, but Kashmir has been caught in the crossfire between Indian Army, Pakistan Army and the jihadists.

He grew up with a secular upbringing, with not much need for religion in his life.

When asked if Islam needed to go through more debate.

He responded and said that it was already happening but not vocally enough. The modernizing movement is happening often outside Muslim majority countries. Women were leading the way, by challenging the interpretations of the mullahs.

He thought he was improving as a writer. He was hoping for clarity in his writing more and more. In the past he had tried to be clever with language, but was no realizing that simplicity is the hardest thing. To tell a gripping story, the writer needs to write about what they feel most connected with. He writes about India, and then, he brings in themes of love, violence and revenge. He said young writers measure themselves in comparison with other great writers, but the older he gets he feels writing is more about who he is.