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Is the Nobel Prize in economics is worthy of its name?

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pawelk1986
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01 Apr 2014, 12:19 pm

I read that Alfred Nobel established the prizes in his will to the best scientists, peace activists and writers in the following disciplines:
Chemistry,
Physics,
Medicine,
Literature,
Activities for peace in the world.

In his will, there is not one mention of the prize in economics, so why it awarded?



starvingartist
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01 Apr 2014, 3:09 pm

pawelk1986 wrote:
I read that Alfred Nobel established the prizes in his will to the best scientists, peace activists and writers in the following disciplines:
Chemistry,
Physics,
Medicine,
Literature,
Activities for peace in the world.

In his will, there is not one mention of the prize in economics, so why it awarded?


if you ask me, economics is a made-up "science", not based on any real-life system but derived entirely from the imaginations of self-important blowhards who don't understand that the earth and it's resources are actually finite.



The_Walrus
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01 Apr 2014, 5:24 pm

starvingartist wrote:
pawelk1986 wrote:
I read that Alfred Nobel established the prizes in his will to the best scientists, peace activists and writers in the following disciplines:
Chemistry,
Physics,
Medicine,
Literature,
Activities for peace in the world.

In his will, there is not one mention of the prize in economics, so why it awarded?


if you ask me, economics is a made-up "science", not based on any real-life system but derived entirely from the imaginations of self-important blowhards who don't understand that the earth and it's resources are actually finite.

Last time I checked, neither literature nor peace were sciences...



yournamehere
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01 Apr 2014, 5:24 pm

Since when does the housing market, or the new york stock exchange make any sence. Or even retirement funds for that matter. You might as well give out a nobel prize for the weather.



Krakken
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01 Apr 2014, 6:12 pm

starvingartist wrote:
pawelk1986 wrote:
I read that Alfred Nobel established the prizes in his will to the best scientists, peace activists and writers in the following disciplines:
Chemistry,
Physics,
Medicine,
Literature,
Activities for peace in the world.

In his will, there is not one mention of the prize in economics, so why it awarded?


if you ask me, economics is a made-up "science", not based on any real-life system but derived entirely from the imaginations of self-important blowhards who don't understand that the earth and it's resources are actually finite.


You do know that Economics is a broad field that has tentacles reaching far beyond monetary policy right? BTW the award is funded by a bank that gives it in honor of Nobel.



starvingartist
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01 Apr 2014, 6:16 pm

Krakken wrote:
starvingartist wrote:
pawelk1986 wrote:
I read that Alfred Nobel established the prizes in his will to the best scientists, peace activists and writers in the following disciplines:
Chemistry,
Physics,
Medicine,
Literature,
Activities for peace in the world.

In his will, there is not one mention of the prize in economics, so why it awarded?


if you ask me, economics is a made-up "science", not based on any real-life system but derived entirely from the imaginations of self-important blowhards who don't understand that the earth and it's resources are actually finite.


You do know that Economics is a broad field that has tentacles reaching far beyond monetary policy right? BTW the award is funded by a bank that gives it in honor of Nobel.


ok, i will specify--neo-classical economics is a broad field of made-up bullsh*t. and the fact that a bank funds the award is laughably fitting.



yournamehere
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01 Apr 2014, 7:57 pm

I like economics. I can guess too. With money. Someone elses. Might as well throw in someone elses resources too. Make more guesses. Edjamacated ones. Thats right. New word. Edjamacated. Because it goes good with economics. Our deficit will inflate more in no time flat line. That's right. Flat line. Because we are killing it. It is almost dead. Overflowing with massive bankruptcy. It's economics, and we are professionals. Nobel peace prize winning edjamacated economical flat line wizards.



yournamehere
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01 Apr 2014, 8:02 pm

It's not really economics. It's WIZARDRY!! !! !



trollcatman
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02 Apr 2014, 5:21 am

starvingartist wrote:
pawelk1986 wrote:
I read that Alfred Nobel established the prizes in his will to the best scientists, peace activists and writers in the following disciplines:
Chemistry,
Physics,
Medicine,
Literature,
Activities for peace in the world.

In his will, there is not one mention of the prize in economics, so why it awarded?


if you ask me, economics is a made-up "science", not based on any real-life system but derived entirely from the imaginations of self-important blowhards who don't understand that the earth and it's resources are actually finite.


Don't mistake politicians, bankers and oil cartels for economists. Scarcity is the cornerstone of economics, because if we had unlimited resources everything would be valued at zero.



jrjones9933
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02 Apr 2014, 6:56 am

Economics deserves criticism for its recent spectacular failings, but lots of fields have unethical members who promote corporate interests over the interests of the world. Without independent observers who measure and analyze what happens to all the money, however, we would make less-informed choices in that area, having no one to rely on besides politicians. The politicians and their hired guns make the overwhelming majority of scientifically indefensible statements about the economy, often misrepresenting the statements made by economists.