Monday, Oct 15, 2007
But could they organise a night out in a brewery ?
BBC News: Americans win Nobel for economics
Theory which allows economists to distinguish where markets work well, from where they do not. Apparently offers the opportunity for improved social welfare or greater profits, but maybe not in that order.
Posted by yorkshireman @ 04:04 PM (487 views) Add Comment
6 Comments
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1. Another Alan said...
I do hate the cynical posts that appear here...
(An opinion!)
2. whiteknight said...
Very commendable obviously.
Reminds me of an interview with a well respected "retiring" politician a few years ago in a BBC (i believe) interview.
Most of what he was saying seemed quite sensible, but then he seemed confident in the UKs future due to the quality of our educational establishments and our cutting edge nobel prize winning which showed we were occupying this place at the top of the knowledge tree we would be required to occupy to survive.
I remember thinking even then "oh dear. oh dear. oh dear. absolutely brilliant of course..... doesn't pay the bills."
We appear to be mistaking the capability of education with the capability of intelligence aswell. Sounds brutal. Maybe it is.
I really wonder what people think has allowed the UK to be like it has been for the last 60 or so years. I really do.
I do hope people arent mistaking what has really been playing the bills in this country. Unfortunately it isnt people poncing around with a 1st from Oxbridge or anything similar.
3. whiteknight said...
It is even less the people who have been poncing around buying and selling houses, consuming on credit cards, sitting in coffee shops and wine bars etc.
4. David Smith's Sub Prime. . . said...
Its lawyers....
5. Deadspider said...
"The prize has awarded by the Swedish central bank since 1969, and is not part of the original legacy of Alfred Nobel when he established the prizes in the early 1900s."
Typical that a fake Nobel prize should be awarded to economist's in a bankrupt country ?
6. alan said...
Perhaps we are confusing academic intelligence with deliverables, but the US economy isn't going too well right now.
If these academics want to get stuck into real life problems I would suggest they see Michael Moore's "Sicko", now going on general release - about the US health system. Any society that lets down its population like this shouldn't get an accolade.
But then I forgot, it's the American Dream, isn't it?