Comment by thrance

Comment by thrance 9 hours ago

The issue with this prize isn't that economics is not a real science. Nobel prizes are primarily vulgarization and communication tools, and as such are inhenrently political. The Sveriges Riksbank is piggy-backing off the popularity of Nobel Prizes to advocate for a certain vision (their vision) of economic orthodoxy. It is overwhelmingly awarded to white western men, who, more relevantly, all share an anglocentric neoliberalist vision of economics. This, I hope, we are allowed to take issue with.

EDIT: apparently not. I would rather you explain to me why than downvote mindlessly.

lanfeust6 7 hours ago

White western men are no more represented in Economics than other hard sciences, and concensus in Economics is no different in East Asia and the rest of the world excepting the authoritarian Socialist experiments.

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andrepd 7 hours ago

There's no "consensus" in economics, let alone.

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- StopDisinfo910 5 hours ago
  
  Of course, there is consensus in economics.
  It's a field which is mostly interested in models and anyone can agree that a model is consistant and implies surprising things even if they think the hypotheses it makes don't faithfully represent reality.
  It's endlessly fascinating to me how some people will happily disparage economics while having very little idea of what it's actually about.
  
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  331c8c71 3 hours ago
  
  Modelling isn't the higher intellectual pursuit it's made out to be. Imo designing theoretical models post-hoc to "support" a desired conclusion is not unheard of in econ/finance.
  
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- lanfeust6 6 hours ago
  
  That's nonsensical. There is overwhelming consensus over many things, e.g. tariffs.
  
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thrance 6 hours ago

I don't see what point you're trying to make. Do you mean to claim that the Sveriges Riksbank is unbiased in who it chooses to give their price to? Unless you believe that 90% of economists come from the US (and the remaining 10% from the UK), you should take issue with this list: https://en.wikipedia.org/wiki/List_of_Nobel_Memorial_Prize_l...
> concensus in Economics
That's what I was talking about. This "consensus" is completely made-up and propped up by, among others, the Sveriges Riksbank. To the point that there are people like you who feel they should defend them against the evil "authoritarian Socialist", because of course, as we all know, that's all there is besides Neoliberalism. I sincerly hope you consider broadening your horizons, maybe start by Thomas Piketty's work: https://en.wikipedia.org/wiki/Thomas_Piketty

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- lanfeust6 38 minutes ago
  
  > I don't see what point you're trying to make. Do you mean to claim that the Sveriges Riksbank is unbiased in who it chooses to give their price to?
  I made no such claim. I don't take issue with that list: the US by far leads in number of high‐profile economic researchers, high publication output, large number of employed economists.
  Just as Mathematics is still Mathematics in the rest of the world, the broad perspective on Economics is not meaningfully different in the rest of the world. Even if it originated in the anglo-sphere, it's global. That's the point I made.
  > This "consensus" is completely made-up and propped up by, among others, the Sveriges Riksbank.
  Leading Economists globally find consensus on all manner of policy issues. Many academic papers model the effects of tariffs on prices, welfare, and the consensus is that tariffs generally harm consumers. Surveys conducted on Economists show strong consensus there.
  > because of course, as we all know, that's all there is besides Neoliberalism
  It's not a long list. Even Social Democracy darlings of Europe are effectively just Liberal with a bit more spending. Incidentally, France is in deep trouble because of this. Their public spending as a % of GDP far exceeds peers.
  > maybe start by Thomas Piketty's work: https://en.wikipedia.org/wiki/Thomas_Piketty
  Piketty is decidedly heterodox, and I've read Capital in the 21st Century, though not his latest which as I understand revisits much of the same. Wealth taxes have been tried in several countries including Austria, and promptly dropped. That's because they do not work well. It's difficult to implement and the returns just aren't good.
  
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underlipton 8 hours ago

It's a, "They hate him because they told the truth," situation. Frankly, it applies to the Peace Prize as well, but this one has an even more naked agenda. It would be a disservice not to mention its history every time it's brought up, because it is ever-salient to any discussion of the merit of the winners.

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AtlasBarfed 8 hours ago

Well you are on an anglo-centric neoliberalist imperialist site filled with people that are economic beneficiaries of that. Basic economic game theory that you'd be downvoted.

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lanfeust6 7 hours ago

Extreme poverty rates have been plummeting precisely because East Asian countries became economic beneficiaries. The rest of the world operates on the same principles.

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