Nobel Prize in Economics: Winners NOT in Congress

As if you didn’t know, the Nobel prize for Economics was NOT awarded to any member of the U.S. Congress. I’m smiling about the absurdity of reading about the true winners- 3 Americans- while hearing in the background the idiocy on display in the U.S. Congress. It is like comparing the New York Symphony Orchestra to a kazoo band. Yet it is those moronic legislators  who make economic decisions for our nation. The absurdity is stunning and frightening. Yet,  that is our government.  The Constitution says so.

Of course, when the Constitution was written, none of the authors suspected that politics would trump the interests of the fledgling nation. The authors assumed that our leaders charged with the governance of this nation would be true patriots, true leaders who would put the interests and well being of the people at the top of their agenda.

Those ‘people’ whose interests were being served were, coincidentally, white male landowners. Does this remind you of today’s  Republican party? Rich white males serving the interests of rich white males? It was another 70 years before the interests of ‘The People’ moved to the top of the agenda.

Yet I digress.

Interestingly, one of this year’s Nobel winners in economics, Robert Shiller, was remembered for his warnings about the potential collapse of the housing market [bubble]. Naturally, Americans did not heed his advice, the end consequence of that being the near collapse of our economy. But then, why would members of Congress listen to an expert in the field?  Especially when their reelection was just around the corner!

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8 thoughts on “Nobel Prize in Economics: Winners NOT in Congress

  1. Yesterday morning I used a phrase for the first time. A phrase which I had been suggesting in many comments. That phrase was neo-Confederacy. In D.C. on Sunday the confederate flag was raised at the
    WH, where a black family lives. Last night Chris Hayes used that same
    term. A guest disagreed with him using that term, and Hayes basically
    let it go unchallenged. What do you think? Is it economics?

    Secondly, the Founders were great concerned about the formation of
    political parties. In addition to the warnings of Jefferson and Madison, I
    believe it was expressed in the “Federalist Papers” as well. As an “editor”,
    lol, I would have to suggest that the first sentence in the second paragraph
    be removed.

    1. So, how often do you see that flag down there? I rarely see a flag here but occasionally I see a sticker on a window of a car/pick up.

  2. So what are Shiller’s economic thoughts today? Is he a Hayek or Keynes
    economist? What is his thoughts on the stock market? Where are the
    economic fault lines today? What earned him a Nobel? He wasn’t a “Lone
    Ranger” in predicting a housing collapse, as I recall. Greenspan was using the term “irrational exuberance”.

  3. Here we go again, M_R. There is a new scientific report that a
    mosquito that lived 40 million years ago in Montana has been found
    fosssilized in shale which is loaded with blood…It is not dinosaur
    blood as the dinasours went extinct 20 million years before, but
    it is blood of a descandant of the dinosaurs. The bible thumpers
    will be after science again. How does it confirm to their
    unreasonable “creationism”?

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