Arafat, Gore, Krugman: Time to Stick Fork in Nobel Institution?

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He may have letters after his name, but Paul Krugman is not an economist by this proper definition:

 

“I have found, over a long time, that some people are natural economists. They don’t take a course, but they understand–the principles seem obvious to them. Other people may have Ph.D.s in economics, but they’re not economists. They don’t think like an economist. Strange, but true.”  Milton Friedman

 

We already knew that you don’t have to be a peacemaker to win the Peace Prize; we now know you don’t have to be an economist to win the Economics Prize.

 

(A colleague with a literary bent responds, “And DON’T even get me started on the literary awards!”)

 

OK, I think it’s time we stick a fork in this entire Nobel institution. That probably means we all need to stop using the term “Nobel-winning” as a qualifier denoting preeminent authority.

 

I suppose one could add further qualifiers like, “winner of the Peace Prize before they began giving it to terrorists and unhinged former politicians,” or “winner of the economics prize before they began giving it to people whose career was about subverting the basic premises of economics,” but that’s just too awkward.

 

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Addendum: Last January in Econ Journal Watch, Dan Klein and Harika Anna Barlett published a comprehensive analysis of Krugman’s columns, documenting in detail his failings in economics. From their abstract: “The pattern of policy positions and arguments do not square with his purported concern for general prosperity and the interests of the poor. . . Krugman is best interpreted as a committed social democrat and Democratic partisan.”

 HT: James Hohman

 

 

 

 

 

 

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One Response to “Arafat, Gore, Krugman: Time to Stick Fork in Nobel Institution?”

  1. Rougman Says:

    Why?

    Was Robert Mugabe ineligible?

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