How did Paul Krugman win a Nobel Prize?

Paul Krugman clearly decided to go one better than his previous suggestion that an alien invasion would help us get of our current economic slump, and is now suggesting the US Mint creates a $1 trillion dollar coin in order to help the federal government cope with its massive deficits.

This guy won a Nobel Prize? If all you can suggest to fix the economy are massive spending on useless junk, and massive money creation out of thin air, you’ve clearly run out of worthwhile things to say. Of course, this has been typical of Keynesian thought ever since Keynes wrote the General Theory.

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