Nobel Prize in Economic Sciences 2013: Trendspotting in asset markets

Re:Nobel Prize in Economic Sciences 2013: Trendspotting in a... by vasquez on Monday October 14, 2013 @10:31AM (#6547446)

This prize was created by bankers to celebrate their own pseudo(mostly)-science.

Everything I've come across suggest that Alfred Nobel detested their ilk, and wouldn't want his name associated with the prize in any way, shape or form. That's why the title matters.

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Re:Nobel Prize in Economic Sciences 2013: Trendspotting in a... by socrates1998 on Monday October 14, 2013 @10:38AM (#6547475)

Thank you, this award is really a joke.

Economists, generally, don't use their models in the real world. And when they do, they lose billions of dollars.

See Myron Scholes. He did it twice.

Because his "science" was flawed.

It drives me crazy that these guys not only get awards, but influence government financial policy.

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Re:Nobel Prize in Economic Sciences 2013: Trendspotting in a... by jljljl on Monday October 14, 2013 @11:08AM (#6547647)

What should influence government financial and fiscal policy if not economics?

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Re:Nobel Prize in Economic Sciences 2013: Trendspotting in a... by socrates1998 on Monday October 14, 2013 @12:38PM (#6548204)

Economists, not economics.

The current people who are the "top economists" in the world, are, generally, ill-fit to their jobs.

Their abilities to assess risk are horrible.

They are making the world a more dangerous place, not safer.

Economics is very complicated, much more complicated than most leading economists think.

I am talking about people heading the leading economic and financial institutions today.

They are dangerous because they are overly confident of their horrible "predictions".

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