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!