October 17, 2011
– Comments (5)
Seems like Krugman talks fairly much about the economy?
(And has been right about the bailout being too small.. and austerity being bad...)
After an awkward silence and uncomfortable sheepish grins at each other, Prof Sims opined that off the top of his head economists like him can't answer. It takes too much data analysis.
Kind of "Don't put me on the spot!"
I think the discomfort was that he'd have to disagree with his patrons. He wasn't awarded a real Nobel Prize, it is a prize from the central bank of Sweden in honor of Alfred Nobel. Any honest answer would include the damage that central banks everywhere have done.
Or maybe he's afraid of his education patrons. He'd have to criticize the action by Obama's regime, which might make his employer (a socialist institution of higher learning on the East Coast, IIRC) embarrassed.
But maybe Peter's right, and they just didn't have answers.
Agreeing with Cain was a little disappointing, but mentioning the TEA BAGGERS and Wall S. protestors in the same sentence... really? Are we gonna go there!
Actually really embarrassing. Modern economics has become a religion, with some partisan politics sprinkled in. At these clowns admitted that they are clueless and undeserving of an award in a field of social "science".
Just like many other "noble prize" winners they don't really have a clue about real life questions or answers. The prize is awarded to/for correct pc thinking and appearances. Let's look at some of the noted award winners lately.
J. Carter -Peace
Carter may be the only one on the list above truely deserving of the prize.
just my 2 cents.