Monday, October 14, 2013

This Year's Economics Nobel Winners Contradict Each Other

Like in 1974, when Socialist Gunnar Myrdal and Austrian Friedrich Hayek got the Nobel Economic Price, the Swedish Riksbanks awards it this year  to two people with contradictory views. Both Eugene Fama, leading advocate of the so-called Efficient Market Hypothesis, and Robert Shiller, who has come up with findings contradicting that theory (Plus some to most people unknown econometrician, Lars Peter Hansen, who has developed new econometric methods for finance)

Sort of like giving Al Gore and leading "climate skeptic" Dr. Roy Spencer the same award at the same time.


Post a Comment

<< Home