Professor Jean Tirole Just Won The Nobel Prize In Economics

Professor Jean Tirole Just Won The Nobel Prize In Economics: When we were kids in little league there used to be this thing called “The Hustle Award”. And you can just imagine the guy who snagged that one. Four eyes, two left feet and a couple of butter mounds where the hands should have been. Some years, ok decades, later we find that this award still exists. Only now instead of being given to fellows that failed on the ball field it appears to be going to people that fail in an even more important one; economics. And by failure we mean unable to have predicted the world financial meltdown and unable to prescribe actions significantly different from the ones that caused it in the first place. Interestingly enough there was a long lister for The Nobel Prize in Economics (or more accurately the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel) that has consistently not failed at either of those things. His name is Israel Kirzner and so far as we are concerned he is the MVP of econ.

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I HATE THE MEDIA ™
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