Comment on Richard Thaler’s win just saved the Nobel Prize in Economics

Richard Thaler’s win just saved the Nobel Prize in Economics

(Credit: Shutterstock/superjoseph) Richard Thaler’s victory in the Nobel Prize category for Economics is more than a personal triumph. While Thaler has every reason to be happy that years of being marginalized for his views on behavioral economics — particularly the fact that, contrary to what many free-market disciples believe, people don’t always make economic decisions based on rational self-interest — it is perhaps most remarkable that an economist who is not a strict laissez-faire advocate managed to walk away with the top prize. To understand why, one must start with how the Nobel Prize in Economics is, so to speak, the black sheep of the Nobel family. Economics wasn’t even among the categories created by Alfred Nobel in his will.

 

Comment On This Story

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More Politics News