And in other boring news, the 2011 “Nobel Prize” in Economics (it’s not really a Nobel, it’s “The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel” goes to Thomas J. Sargent and Christopher A. Sims “for their empirical research on cause and effect in the macroeconomy”.
I’ve always thought this Johnny-come-lately prize was somewhat of a travesty. Economics is not a hard science, but a social science, and they’ve already run out of famous economists to give it to. It’s not like economics advances so rapidly that they can even give a prize of this type on a yearly basis. (Apologies to Paul Krugman.)