Paul Krugman, Princeton professor and columnist, wins Nobel economics prize - Breaking News From New Jersey - NJ.com Paul Krugman, Princeton professor and columnist, wins Nobel economics prize by The Star-Ledger Continuous News Desk Monday October 13, 2008, 7:14 AM The Royal Swedish Academy of Sciences said American Paul Krugman won the Nobel economics prize "for his analysis of trade patterns and location of economic activity." Krugman, 55, joined The New York Times in 1999 as a columnist on the Op-Ed Page and is professor of Economics and International Affairs at Princeton University. Krugman has been a harsh critic of the Bush administration and the Republican Party. 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." Princeton University is planning a press conference today. The time and location will be announced later this morning. Krugman was the lone of winner of the 10 million kronor ($1.4 million) award and the latest in a string of American researchers to be honored. The Royal Swedish Academy of Sciences praised Krugman for formulating a new theory to answer questions about free trade.