Viral Flash Reports

There's No Nobel Prize In Economics. It's All A Lie.

Continue Reading BelowAdvertisement If you discover a new element or invent time travel, as you do, everyone agrees that’s an amazing advance. But if you come up with some new economic model, your colleagues will spend the next century debating whether you’re even right, let alone whether you “have conferred the greatest benefit to humankind.” When Friedrich Hayek won in 1974, he said he opposed the whole award. His “Austrian business cycle theory” was just a theory—a theory…