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
