Trump vs The Economists

[J842P]

Nobel Prize winners do not mean a thing to Trump supporters. They're still mocking that whole institution since it awarded Obama the Nobel Prize. In their blinkered eyes, that discredited the whole bunch.

Well, the Nobel Peace Price has been a pretty much discredited since they gave to to Harry Kissinger, which is like giving the Nobel Prize in Physiology and Medicine to the Black Death.

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Obama wins a peace prize but brought peace to no region.

He won it because he did not talk like a belligerent bully like Bush.

Now we are back to the belligerent bully.

Literature prizes have much higher standards than peace prizes, but it is about taste, nothing that can be demonstrated.

And prizes in economics are real, they represent real theories than many times have no real world application or only apply to a specific type of economic system with specific economic arrangements.

The thing which ruined nobel in economics for me were these two Nobel laureates which went to work for some Hedge fund which then went bust. I don't know if they were the cause, my main grudge is the fact these two assholes thought that Hedge funds are somehow good idea and really needed for the economy.

To be fair, you don't know if they think that. They may have just wanted to make lots and lots of money.

 

[laughing dog]

Obama wins a peace prize but brought peace to no region.

He won it because he did not talk like a belligerent bully like Bush.

Now we are back to the belligerent bully.

Literature prizes have much higher standards than peace prizes, but it is about taste, nothing that can be demonstrated.

And prizes in economics are real, they represent real theories than many times have no real world application or only apply to a specific type of economic system with specific economic arrangements.

The thing which ruined nobel in economics for me were these two Nobel laureates which went to work for some Hedge fund which then went bust. I don't know if they were the cause, my main grudge is the fact these two assholes thought that Hedge funds are somehow good idea and really needed for the economy.

You are referring to Robert Merton and Myron Scholes who founded Long-Term Capital Management - a hedge fund that failed spectacularly during the financial meltdown.

To be fair, they were in it for the money and to put their asset pricing theories into practice.

 

[barbos]

Well, the Nobel Peace Price has been a pretty much discredited since they gave to to Harry Kissinger, which is like giving the Nobel Prize in Physiology and Medicine to the Black Death.

- - - Updated - - -

Obama wins a peace prize but brought peace to no region.

He won it because he did not talk like a belligerent bully like Bush.

Now we are back to the belligerent bully.

Literature prizes have much higher standards than peace prizes, but it is about taste, nothing that can be demonstrated.

And prizes in economics are real, they represent real theories than many times have no real world application or only apply to a specific type of economic system with specific economic arrangements.

The thing which ruined nobel in economics for me were these two Nobel laureates which went to work for some Hedge fund which then went bust. I don't know if they were the cause, my main grudge is the fact these two assholes thought that Hedge funds are somehow good idea and really needed for the economy.

To be fair, you don't know if they think that. They may have just wanted to make lots and lots of money.

Well, they failed, so much for their theories.