Thursday, August 26, 2004

Hayek won 1/2 a Nobel

«Yet another boast of the Austrian School is that Hayek was awarded the Nobel Prize in economics.

This is indeed an honor, but one should keep in mind the purpose of the Nobel. It is intended to reward individuals for specific contributions, not their entire lifetime of work or the school of thought from which they hail.

This policy has led to many ironic awards, such as the Nobel peace prize to PLO terrorist Yasser Arafat.

In Hayek's case, the award was shared by Gunnar Myrdal, "for their pioneering work in the theory of money and economic fluctuations and for their penetrating analysis of the interdependence of economic, social and institutional phenomena." Myrdal was a Swedish economist on the far left, whose Keynesian-like policies brought Sweden out of the Great Depression in 1932, the first nation to do so.

In honoring both economists, the Nobel committee could have hardly been validating their very different schools of thought simultaneously.»
Link
Nobel Link

1 comments:

Joao said...

O mais engracado e q o myrdal é um dos responsáveis juntamente com o Prebisch, pela política de substituicao de importacoes imposta na america latina. sabem como é... remédios a priori dá barraca. o myrdal era um economista comum.