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Funny thing about the Sveriges Riksbank Prize

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Prateek Sanjay Posted: Thu, Oct 7 2010 3:06 AM

The board of the Sveriges Riksbank has various economists on it, and occasionally, in order to promote their non-profession as wonks, they give prize to other wonks.

Would the Sveriges Riksbank ever give a prize to those who fund or run it? OF COURSE THEY WOULD.

Isn't that why Sveriges Riksbank board member, Dr. Myrdal, won the prize? He deserved it, it was his company.

Of course, when we don't want to look like we are breaking our arms patting ourselves in the back, we have to make concessions. Which is why Myrdal decided to share his prize with August Hayek, an obscure Viennese man who was friends with Keynes.

What I don't get though is why Myrdal not feel proud that he gave himself his own prize. Instead, he got angry, and made sure in his acceptance speech to mention that the other man getting the prize was a "reactionary" and that's why the prize should be abolished.

That's what I don't get. You hate a man. You don't feel good about not winning a prize. So you invite the man. You give him and yourself a prize. And then you condemn and humiliate him in public. When was the last time you invited a man from a foreign country to give him a prize just so you could personally degrade him?

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Arvin replied on Thu, Oct 7 2010 5:04 AM

That's how we roll in Sweden!

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Merlin replied on Fri, Oct 8 2010 1:29 AM

All the world’s a stage…

The Regression theorem is a memetic equivalent of the Theory of Evolution. To say that the former precludes the free emergence of fiat currencies makes no more sense that to hold that the latter precludes the natural emergence of multicellular organisms.
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