Paul Krugman has been awarded the Nobel Prize for Economics.

The consensus appears to be that he deserves it for his pre-punditry work. I had a discussion with National Review's Ramesh Ponnuru a few years back when he was visiting San Diego as the starting point for one of the magazine's cruises. One of the topics that came up was Krugman and the possibility that he might one day win a Nobel Prize. After some discussion, we were both of the opinion that his less than honest or scholarly punditry would hurt his chances.

Obviously it didn't hurt it enough.

The unfortunate result is that this will likely give Krugman more credibility than he deserves when it comes to what he writes in the New York Times.