Saturday, November 29, 2003
Bhagwati and Dixit defend Krugman
After Brad DeLong's defense of Krugman in last week's issue of the Economist, the current issue features a defense of Krugman by Avinash Dixit and Jagdish Bhagwati. Dixit and Bhagwati are responding specifically to a letter the Economist published that called Dixit and Bhagwati more deserving of the Nobel than Krugman. Here is the Dixit and Bhagwati letter in full.
We are happy and flattered by Philippe Kohler's praise (Letters, November 22nd). But we must take exception to his suggestion that Paul Krugman is less deserving of a Nobel prize. In the research phase of his career, Mr Krugman contributed many important insights to economics.
We also believe that valuable contributions to policy should increase, not decrease, one's eligibility for the Nobel prize in what is after all a social science. We would be delighted if the Nobel prize committee saw fit to honour us; who wouldn't be delighted to be so honoured? But our delight would be doubled if Mr Krugman was also included.
Jagdish Bhagwati
Columbia University
New York
Avinash Dixit
Princeton University
Princeton, New Jersey
We are happy and flattered by Philippe Kohler's praise (Letters, November 22nd). But we must take exception to his suggestion that Paul Krugman is less deserving of a Nobel prize. In the research phase of his career, Mr Krugman contributed many important insights to economics.
We also believe that valuable contributions to policy should increase, not decrease, one's eligibility for the Nobel prize in what is after all a social science. We would be delighted if the Nobel prize committee saw fit to honour us; who wouldn't be delighted to be so honoured? But our delight would be doubled if Mr Krugman was also included.
Jagdish Bhagwati
Columbia University
New York
Avinash Dixit
Princeton University
Princeton, New Jersey
