…decades ago, Krugman created a possible Theory of Everything….
The theory I’m talking about isn't Keynesian economics, which Krugman often praises in his blog and his twice-weekly column in the New York Times. Nor is it the New Trade Theory, which is probably what Krugman is best known for as an academic. I’m talking about a theory called New Economic Geography, which Krugman developed in the 1990s along with Japan’s Masahisa Fujita and the U.K.’s Anthony Venables.…Yes, of course, but this doesn't explain the how to accomplish globalization. There are socio-economic choices with political implications and consequences.
Bloomberg View
One Economic Theory to Explain Everything
Noah Smith
