Ahhh, autumn is upon us once more. Baseball season is winding down. Football season is winding up. And somewhere in Europe guys who are supposed to know more than all the rest of us are making asses of themselves.
Not to be outdone by by last year’s spectacle of the Obama Peace Prize, the Nobel Committee has committed yet another excellent selection.
As reported by CNN Money:
Three economists will share the 2010 Nobel Prize for their work on how government policy affects unemployment, the Royal Swedish Academy of Sciences announced on Monday.
The Nobel Prize went to Peter Diamond of the Massachusetts Institute of Technology in Cambridge, Mass.; Dale Mortensen of Northwestern University in Evanston, Ill.; and Christopher Pissarides of the London School of Economics and Political Sciences.
The three received the prize for research on how economic policy affects the job market. Their theories “help us understand the ways in which unemployment, job vacancies, and wages are affected by regulation and economic policy,” said the academy in a statement.
You will have to forgive our sub Nobel Laureate level intelligence for just a moment. But it seems that in a world in which rabid unemployment is the scourge of the age, the last thing anyone should be do is reward employment experts.
In fact, it might not be such a bad idea to suspend the prize altogether until every mainstream economist alive circa 2008 has either retired or moved onto that great Ivory Think Tank in the Sky.
– Written by Kip Hooker at VitaminPress.com
Source: CNN.com
This post was last modified on October 13, 2010
View Comments (7)
The Nobel Committee is about as worthless a the United Nations... Both organizations have out-lived whatever usefulness they might have once had.
I don't think you necessarily have to be a Nobel laureate to understand what's happening in this country: A majority of the uninformed electorate voted for an unexperienced idiot who "jus beez black and sheet". Our economy today is part and parcel of that choice. Thanks Obama Voters, I lovin' the change!
I would give you a Nobel prize, but unfortunately I'm not Swedish... although my mother is.
I already applied. Downloaded the form, filled it out and everything. Listed the justification for why I deserved it as "took a really big dump last tuesday."
After all if they give it out for useless accomplishments that haven't even happened yet, economists whose theories fly in the face of reality, and snake oil salesmen out selling global warming BS, they should also give it out for good BM's.
The Nobel Prize comes from Norway, not Sweden. The awards are given out in Oslo.
Only the Peace Prize is done by the Norwegians. The other four, including the prize for economics which is the subject under discussion, are done by the Swedes. (Nobel was Swedish, not Norwegian.)
OK