Nobel-winning economist speaks at UC

""I'm here to give a feel-good talk," Krugman joked as he opened his speech. He later said that he believes some theories that in economic circumstances such as these "unemployment rises typically by 7 percentage points, which would put us at about 12 percent, which does not look unreasonable the way things are going. And it's about five years before unemployment starts to come down again, definitely something that is really worrisome.""