At its meeting in Oviedo, the Jury for the 2004 Prince of Asturias Award for Social Sciences, made up of Ms. Carmen Caffarel, Ms. Adela Cortina, Mr. Álvaro Cuervo, Mr. Eugenio Domingo Solans, Mr. Carlos Espinosa de los Monteros, Mr. Ángel Gabilondo, Mr. José Luis García Delgado, Mr. Manuel Jesús González, Mr. Luis González Seara, Ms. María del Carmen Iglesias, Mr. Aurelio Menéndez, Mr. Adolfo Menéndez, Mr. Manuel Menéndez, Ms. Ana Rosa Migoya, Mr. José Oliu i Creus, Mr. José Manuel Otero Novas, Mr. Gonzalo Urquijo Fernández Araoz, Mr. Juan Vázquez chaired by Mr. Manuel Fraga Iribarne with Mr. José López-Muñiz as secretary confers the 2004 Prince of Asturias Award for Social Sciences on Paul Krugman, the economist.

The Jury thus acknowledges his scientific and social standing, and the fecundity of his research work, which has contributed outstandingly to establishing the foundations of the new theory of international trade and economic development.

Professor Krugman has applied innovative approaches to the key economic issues of our times, which hold such sway over public opinion. The hallmark of his work is the application of research outcomes to real living and welfare conditions, with particular emphasis being placed on his concern for regional economic inequalities.

Oviedo, 23rd June 2004