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Thread: Americans Eugene Fama, Lars Peter Hansen, Robert Shiller Win Nobel Prize In Economics

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    Re: Holy ****, 3 Americans won Nobel Prize in Economics.

    Quote Originally Posted by RDS View Post
    Is it now? Well then, I eagerly await your extended comments on why exactly these 3 academics don't deserve the prize. And perhaps you could enlighten me further as to who you think the prize should have gone to. Thanks.
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    Re: Americans Eugene Fama, Lars Peter Hansen, Robert Shiller Win Nobel Prize In Econo

    To offer up a bit of perspective on this issue.

    Paul Krugman was also given a Noble Prize, as was Obama and Al Gore.

    It's been reduced to a little but more than a door prize by those 3 people alone.

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    Re: Holy ****, 3 Americans won Nobel Prize in Economics.

    Quote Originally Posted by Mithros View Post
    I don't mean to come across as a jingoist, but the US is pretty much at the forefront of every major academic field. We may have a so so primary/secondary education system, but no other country can touch our post graduate system.

    And yes, we do have a rather alarming number of people who disdain education and don't believe in crazy newfangled ideas like "economics". But don't mistake our political problems for country wide stupidity.
    I heard an interview with one of them on the radio, I don't remember which one, but it doesn't really matter for this point. He basically said that economics touches every other issue, and he was right. Just as women's activists say all issues are women's issues, all issues have economics at their core.

    War is an economic issue. We've all heard the saying, "War is good for business." But, aside from religion (which, as often as not, is a convenient cover for economics), one country wanting another's resources is the man reason for war.

    Health care is certainly an economic issue. Energy is an economic issue: The main reason we haven't dumped the too-expensive fossil-fuel system is that the alternatives, for the moment, are so expensive that they're not worth switching to: "Better the devil you know than the devil you don't."

    I'm not saying that these guys deserve this Nobel Prize -- I don't know enough about them to decide that. I am saying that the one of them who said that all issues are touched by economics is right.

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    Re: Americans Eugene Fama, Lars Peter Hansen, Robert Shiller Win Nobel Prize In Econo

    Quote Originally Posted by Fenton View Post
    To offer up a bit of perspective on this issue.

    Paul Krugman was also given a Noble Prize, as was Obama and Al Gore.

    It's been reduced to a little but more than a door prize by those 3 people alone.
    Giving Obama the Nobel Peace Prize, at that point (2009), was at best very premature, and at worst completely unjustified. Although the fact that, this year, he managed to get Republicans to oppose a war against nonwhite non-Christians means he may just have earned it.

    Giving Gore the Nobel Peace Prize was a mistake. His actions are worth some kind of prize for humanitarianism, but it's hard to say they've advanced the particular cause of peace.

    Krugman does deserve the Nobel Prize in Economics. He has the main qualification, which is understanding that conservatism doesn't work.

    Disclaimer: Krugman teaches at Princeton University, less than 20 miles from my home, so I'm biased in his favor for more than just political reasons.

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    Re: Holy ****, 3 Americans won Nobel Prize in Economics.

    Quote Originally Posted by Arcana XV View Post
    Is it now? Well then, I eagerly await your extended comments on why exactly these 3 academics don't deserve the prize. And perhaps you could enlighten me further as to who you think the prize should have gone to. Thanks.
    Unlike the Nobel Prizes for Medicine, Chemistry, Physics, Literature and Peace, which were created by Nobel in his 1896 will and first awarded in 1901, the Economics Prize was conceived by Sweden's central bank in 1968 to mark its tricentenary and first awarded a year later. The Economics Prize has over the years been criticized as not being a "real" Nobel. In a newspaper article Peter Nobel in 2001 wrote "It's most often awarded to stock market speculators"

    In the wake of what USA is going through right now and still reeling from the last financial crisis, $17 trillion debt, government shutdown, debt default and possibly dragging the rest of the world's economy to catastrophe no American deserves a Nobel price in Economics.

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    Re: Holy ****, 3 Americans won Nobel Prize in Economics.

    Quote Originally Posted by RDS View Post
    Unlike the Nobel Prizes for Medicine, Chemistry, Physics, Literature and Peace, which were created by Nobel in his 1896 will and first awarded in 1901, the Economics Prize was conceived by Sweden's central bank in 1968 to mark its tricentenary and first awarded a year later. The Economics Prize has over the years been criticized as not being a "real" Nobel. In a newspaper article Peter Nobel in 2001 wrote "It's most often awarded to stock market speculators"

    In the wake of what USA is going through right now and still reeling from the last financial crisis, $17 trillion debt, government shutdown, debt default and possibly dragging the rest of the world's economy to catastrophe no American deserves a Nobel price in Economics.
    I see. So, regardless of their individual qualifications, their nationality alone is reason enough for them to be undeserving of the award. Nice reasoning skills they teach in Singapore schools.

    Happy US bashing. That's all you've really got on display here.
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    Re: Holy ****, 3 Americans won Nobel Prize in Economics.

    Quote Originally Posted by Arcana XV View Post
    I see. So, regardless of their individual qualifications, their nationality alone is reason enough for them to be undeserving of the award. Nice reasoning skills they teach in Singapore schools.

    Happy US bashing. That's all you've really got on display here.
    As far as the government handling of the economy is concerned USA has to be bashed all the way.

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    Re: Holy ****, 3 Americans won Nobel Prize in Economics.

    Quote Originally Posted by RDS View Post
    As far as the government handling of the economy is concerned USA has to be bashed all the way.
    What does that have to do with the 3 University professors in the OP and your idiotic notion that no American, regardless of his qualifications, deserves an Economics Nobel Prize? Do these guys work for the US government? Are their ideas directly responsible for the government handling of the economy?
    "Yes, but are you a Protestant atheist or a Catholic atheist?".- Northern Irish joke

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    Re: Holy ****, 3 Americans won Nobel Prize in Economics.

    Quote Originally Posted by Arcana XV View Post
    What does that have to do with the 3 University professors in the OP and your idiotic notion that no American, regardless of his qualifications, deserves an Economics Nobel Prize? Do these guys work for the US government? Are their ideas directly responsible for the government handling of the economy?
    Did they contribute in anyway in the more pressing issues?

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    Re: Holy ****, 3 Americans won Nobel Prize in Economics.

    Quote Originally Posted by RDS View Post
    Did they contribute in anyway in the more pressing issues?
    How about you read their bios. I'm no expert in the field of Economics, but I don't see anything in there that disqualifies any of them. Maybe you can find something a little more tangible than: "They're Amurrikans, duhrr".
    "Yes, but are you a Protestant atheist or a Catholic atheist?".- Northern Irish joke

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