Paul Krugman of the United States has won this year's Nobel Prize for Economics.
The Royal Swedish Academy of Sciences said the prize was awarded for Krugman's new theory that determines the effects of free trade and globalisation, as well as the driving forces behind worldwide urbanisation. The prize carries an award of about 1 million euros and will be handed to Krugman at the annual Nobel prize ceremonies on December 10 in Stockholm.
(Deutsche Welle)
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