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Politics : The Trump Presidency
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To: mel221 who wrote (81027)7/2/2018 11:25:34 PM
From: puborectalis  Read Replies (1) of 359532
 
Mr. Krugman received the Nobel economics award for his work on international trade and economic geography. In particular, the prize committee lauded his work for “having shown the effects of economies of scale on trade patterns and on the location of economic activity.” He has developed models that explain observed patterns of trade between countries, as well as what goods are produced where and why. Traditional trade theory assumes that countries are different and will exchange different kinds of goods with each other; Mr. Krugman’s theories have explained why worldwide trade is dominated by a few countries that are similar to each other, and why some countries might import the same kinds of goods that it exports.
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