The Nobel Prize for Economics. WTF?

Agreed. It’s given by a separate organization than the other Nobel’s. Just a pointless award.

It’s nothing more than a back patting ceremony

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If we've spent more than half a century recognizing the world's greatest economic thinkers, why do we still have inflation, recessions, financial crises, enormous government debt, and economies that seem perpetually unstable?

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this board.

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People who have nearly single-handedly ruined the world have won it like Norman Borlaug (green revolution, responsible for there being billions of third worlders) and Obama (Kenyan Muslim)

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$10 says some kid in Afghanistan took a drone to the face while Obama accepted the award.

A chemist, a physicist, and an economist were stranded on a deserted island. They had a can of beans, but since they didn’t have a way to open it.

After a long but fruitless discussion between the chemist and the physicist in which they concluded that pretty much anything they could do would mean losing a lot of the beans, the economist piped up, “I’ve got it! First, assume we have a can opener…”

Wild to think Obama never said "Praise Allah" but our current president does.

That's why you gotta always drink heavily.

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Geekboy

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Poor choice for a name on here if you posted this thread


If for only 2 people you might spend some time learning about

John Nash aka the guy that brought us "Game Theory"

1978 - Awarded John von Neuman Nobel Prize for what we know seem to call DIS but in my youth better know as management.

1994 - Awarded Nobel prize in Economic Sciences aka Economics Prize

If you studied or worked in the past 100 years you would understand that Capitalism is not the same as Free Markets. Pure Capitalism leads to monopolies, oligarchies, and anything but true Free Markets. Nash proposed Game Theory as the real engine to Free Markets in a truly democratic republic.



James M Buchanan aka the guy who brought us "Public Choice Theory"

1986 - Awarded Nobel prize in Economic Sciences aka Economics Prize

Buchanan was a realist with strong vision of the Economics under the Constitution. While he agreed with Nash in theory he actually offered a reason as to why it did not work in reality. In a country of the overall citizens, the actual people would create truly Free Markets by trial and error until a price point between buyer and seller would be of maximum benefit to both.

This reason was a very limited portion of the populations (currently referred to as the Billionaire Class) could over ride the vast majority of the actual citizens through power, money, and politics to muzzle and thwart the economy of everybody else.

The first person defended what the average citizen should demand when the word Capitalism comes out of their mouth.

The second person explained why it did not happen in modern America.


A generation or so ago ...

We had 50,000 independent news outlets, now we have about 5
We had many communication choices, now just Apple and Google
The internet was for the people, now it is slave to a few businesses
We had privacy by paper, now we have no privacy and Data Centers
We had the Big ?? USA, now we have the Big ?? Global

This goes on and on till we wake up and take back what is our already before it is gone forever. Wage Slavery is in your children's and grandchildren's future until you take back this country and refuse to support any of the nut jobs on the far left and far right who are brainwashing you to control you for they benefit, not yours.

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It’s almost like they take rights away from the normal people and give them to weird people

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You are more correct than you think.

Back then most of Merica was moderate and D's and R's were not that far apart. Staring with the 1980 election we have taken the power of the majority of Merica (the working "middle class") and given it to the weirdest people on the Left and Right.

Expecting this version of the Democratic and Republican parties to get Merica right is a fools errand at best.

Forget, from either side, their positions on any of the following
Abortion
Gun Control
Taxes
Border
Etc
Etc

Congress needs to focus ONLY on the pocketbook
POTUS needs to focus ONLY on foreign policy
SCOTUS needs to hold both to the fire to do their respective jobs

As voters, demand
Prudent fiscal policy
Foreign Policy that makes us the arsenal of Democracy

Nixon was a paranoid schizophrenic but his foreign policy was tops
Kennedy had a sex addiction but got us to Space

This what you should demand of those who represent you but you settle for the defection, the denial, the sound byte, and oh so many things that keep you from focusing on the most important issues and solving them first.

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It’s given by a separate organization than the other Nobel’s.

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Then it might not be a leftist political brownie points award like the peace prize.

I remember taking a final exam in economics my senior year in college, 1978. Blue book essay question was given inflation, unemployment, and the deficit, what would you do to solve the country’s problems?

I responded if any of us knew the answer to this question, including you, we wouldn’t be here taking this test, we’d be in Washington DC solving the problem.

True story. I failed the final and got a C in the class. As an engineering major I just needed to get a C. Mission accomplished.