Monday, October 13, 2008

Nobel Prize = Out of Retirement

I have not been blogging for quite some time due to personal reasons, but today, my voice can no longer be silent. For today, Paul Krugman got a Nobel Prize in Economics. I read that this morning before going to work and was in shock. The Nobel prize used to mean something, but after Al Gore got the Nobel Peace Prize for his mythology (or mainly poking a President in the eye), I thought the Nobel committe could go no lower, but did. They gave the prize to someone who used to be a decent economist but now engages in zero sum thinking as exemplified in this quote (H/T Cafe Hayek):
Although America has higher per capita income than other advanced countries, it turns out that that's mainly because our rich are much richer. And here's a radical thought: if the rich get more, that leaves less for everyone else. That statement -- which is simply a matter of arithmetic -- is guaranteed to bring accusations of ''class warfare.''
Yes, that is engaging in class warefare and, in my opinion, zero sum thinking - the ultimate intellectual disqualifier if any existed in the field of economics. So, I ask dear Krugman, who did you steal from to receive the $1.4 that the Nobel committee gave to you? It is a matter of simple arithmetic, right?

Pathetic. Embarrassing.

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