Paul Krugman wins Nobel economics prize

The AP reports that Self-described "liberal" New York Times columnist and Princeton University professor Paul Krugman

won the Nobel prize in economics Monday for his analysis of how economies of scale can affect trade patterns and the location of economic activity.

Krugman has been a harsh critic of the Bush administration and 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.'