In case anyone cares, these names are not on the list of Nobel prize winners in economics: Thomas Piketty, Emmanuel Saez, Gabriel Zucman. The list therefore is a farce! It probably pleases the 1% though! But the list does include the name Buchanan. Distinguished historian Nancy MacLean, in her marvelously informative & frightening book, Democracy in Chains, describes the work & connections of the Nobel winning economist at George Mason University, James M. Buchanan, and the involvement of the notorious Koch brothers.
My impression for many years is that the Nobel committee is concerned with being inclusive when it comes to the prize in literature. While I have a problem with that, b/c they would refute such a claim, it fades when I consider that if you choose any of the winners, you'll be reading a well-written book. I do agree with you that Piketty and Saez, although they may be accessible to only a small percentage of the population, should be included on the basis of inclusivity.
ReplyDeleteThis is not about being inclusive. Piketty, Saez and Zucman have done ground-breaking work that debunks the Chicago School of economics that has been the foundation of neoliberalism. Their critique of capitalism is recognized around the world as not only theoretically sound, but backed by the treasure trove of data from the past 200 years that they have assembled.
ReplyDeleteThe only reason they have not been recognized, as far as I can see, is that much of the economics profession has been so thoroughly corrupted by big money, it continues to preach the gospel according to Friedrich Hayek and Milton Friedman. Awarding the hack, James Buchanan, the Nobel is a good example of how much money talks in the "academic discipline" of economics.