Americans Win Nobel Prize for Economics

[digital angel]

http://www.washingtonpost.com/busin...obel/2011/10/10/gIQAOv7xZL_story.html?hpid=z2

 

[EditorOne]

Might one assume from this that we do have clever people who know what's going on, but we simply ignore them?

 

[Cavallier]

I know I've said this already but...*snicker*...

 

[LoneTophat]

-scratches chin-
So we win awards for selling ourselves out to China and enacting corporate welfare, instigating yet more crony capitalism that corrupts our financial district.

 

[pumpkincat210]

Haha. The people that hand out the Nobel prize are wealthy, so I assume they only congregate with other wealthy people. So really it's just friends giving each other high fives. They are very good at economics when it only benefits them. How much money does one have to amass before hitting the "evil-greedy-scheming-ruthless-thief- point of no return" level?

 

[Reverse Transcriptase]

I know I've said this already but...*snicker*...

Haha. The people that hand out the Nobel prize are wealthy, so I assume they only congregate with other wealthy people. So really it's just friends giving each other high fives. They are very good at economics when it only benefits them. How much money does one have to amass before hitting the "evil-greedy-scheming-ruthless-thief- point of no return" level?

-scratches chin-
So we win awards for selling ourselves out to China and enacting corporate welfare, instigating yet more crony capitalism that corrupts our financial district.

Wow. All of you have no understanding of the Nobel prizes. We're INTPs, have some fucking curiosity and read the wiki. http://en.wikipedia.org/wiki/Nobel_Memorial_Prize_in_Economic_Sciences

Americans won the prize, but the USA did not win the prize. It went to individuals.

The prize is given by academics-- and professors aren't paid that well, they're not generally seen as being greedy corporatists. They give Nobel prizes based on the validity of the academic research. And the people who usually win are also usually academic researchers-- also not well paid. They may have involvement in the private world, and do work for them, but they don't have any nepotistic loyalties to them.

Not only that, but they give the prizes to people decades after their research came out. Most of the people who get the prize are old or near death-- but they did their research in their twenties & thirties.

Cavallier, I am especially disappointed in your willingness to join in the perpetuation of ignorance.

 

[Reverse Transcriptase]

Might one assume from this that we do have clever people who know what's going on, but we simply ignore them?

Yup, that's it. Politicians ignore economists... and even economists will dabble in politics too, unfortunately. My father is on the Governor of [state-removed]'s board of economic advisers. The governor met with that group once, and other than that the board just meets with lackeys. For the most part, they are ignored. It's not in politicians' interests to do well on a 10-year scale. It's much better to build something in the next two, and try to get re-elected.