Nobel Laureate

Meet The 22 Economists That Want To Kill Your Purchasing Power

After the Fed failed to spark any notable increase in aggregate demand despite keeping interest rates at zero for seven years, a group of economists is pressuring the central bank to rethink one of its most closely held-policy parameters...  


Discoverer Of DNA's Double-Helix Banned From U of I For "Failing Test Of Decency"

Nobel Laureate James Watson, one of the world's most important living scientists, was set to give a lecture at the University of Illinois at Urbana-Champaign. Until he was disinvited - not because of anything related to his groundbreaking co-discovery of the structure of DNA but because some faculty members say he has racist views.

The Economic School You've Never Heard Of

Mainstream economics is under heavy pressure. Consistently wrong policies and forecasts have damaged the field dubbed “the dismal science.” Almost all alternative economists are calling for more government involvement to “fix” the free market and make it work better. But there is one school of economics, once prevalent in academia until it was pushed into obscurity, that places the power to fix the world’s problems in the hands of the people.

El-Erian Warns Of America's CONfidence Economy

Financial markets seem convinced that the recent surge in business and consumer confidence in the US economy will soon be reflected in “hard” data, such as GDP growth, business investment, consumption, and wages. But economists and policymakers are not so sure. (To some outside the US, it is an assumption that sometimes looks a lot like blind faith.)

Nobel Prize Winner Tells Davos' Elite, US Should "Get Rid Of Currency"

Half a world away at the World Economic Forum in Davos, Switzerland, Nobel Laureate economist Joseph Stiglitz made remarks earlier this week that the US should "get rid of currency." Physical cash means there is no one else standing between you and your savings. But Professor Stiglitz and his colleagues don’t want that. They want a massive, centralized bureaucracy to have control over your savings.

"Demonetization Has Achieved Nothing" - India's Rapidly Plunging Toward A Police State

Demonetization will have achieved nothing positive. But it will have seriously damaged the Indian economy. The human costs are immense and continue to pile up. This could easily - even likely - take India to autocracy and eventually, bloody and chaotic disintegration. The demonetization policy and Modi are merely symptoms of deeper issues though.

Meanwhile, As The World Watched The Election... This Happened

So here we are, disgust from so many, euphoria from others, and LOTS of uncertainty about what’s to come. Meanwhile, all the disgust and euphoria - these are intense emotions that cloud judgment. We human beings tend to make very bad decisions... and miss a lot of important cues... when we’re emotional.