Stipulated: Paul Krugman is a terrific economist. He has done pathbreaking work in trade theory. And he won the John Bates Clark medal. He deserves the Nobel.
But in the wake of the Peace Prize going to Al Gore, we can also infer that the Nobel Prize Committee is really ticked off at the Bush Administration. As it should be.
(A similar conclusion, with a very different spin, might appear at, say, The Corner, if they bothered to acknowledge Krugman’s receipt of the prize. Three hours after the announcement, they are spending their time wondering whether Bill Ayers wrote Dreams from My Father. Stay classy, guys.)