Why Do Economists Get All The Nobel Prizes?

[W.G.Ewald]

God Invented Economists To Make Astrologers Look Good -- So Why Do Economists Get All The Nobel Prizes? - Forbes

Any day now the Bank of Sweden will announce a new Nobel economics laureate. On past form, the winner will be an aging Anglophone, Caucasian male. He will also probably be a dangerous crank.

For many years, the great majority of recipients of the Swedish bauble have been advocates of extreme laissez-faire. As such, they have been precisely the people we have to thank for the radical financial deregulation that has blighted the lives of so many home buyers and small investors in the United States (not to mention Ireland, Spain, and elsewhere).

 

[dhananjay1]

Because they can't openly give out Nobel prize for comedy, so they do it indirectly.

 

[t_co]

Because they can't openly give out Nobel prize for comedy, so they do it indirectly.

Fama and Larsen are actually pretty funny, and they make jokes about their own models in class all the time.

 

[W.G.Ewald]

 

[pmaitra]

God Invented Economists To Make Astrologers Look Good -- So Why Do Economists Get All The Nobel Prizes? - Forbes

Forbes criticizing laissez-faire economy. Why am I not surprised?

 

[W.G.Ewald]

Forbes criticizing laissez-faire economy. Why am I not surprised?

For your consideration:

The Economist Has No Clothes: Scientific American

 

[pmaitra]

For your consideration:

The Economist Has No Clothes: Scientific American

Interesting article and well written.

When I use the term "laissez-faire economy," I am talking about the literal interpretation of that French term, whereby, the government leaves businesses alone (with minimal interference). We live in times where the national currency is controlled by a non-government entity (The Federal Reserve), where periodic and iterative inflationary measures are the only ways to keep moving the economy forward, where the government has to make complicated laws to tax, cess, and levy, from all possible sources, making life difficult for both the producer and the consumer. It's about time the government left the people alone.