Don’t let the Nobel prize fool you. Economics is not a science | Joris Luyendijk
by Joris Luyendijk from on (#Q5GX)
The award glorifies economists as tellers of timeless truths, fostering hubris and leading to disaster
Business as usual. That will be the implicit message when the Sveriges Riksbank announces this year's winner of the "Prize in Economic Sciences in Memory of Alfred Nobel", to give it its full title. Seven years ago this autumn, practically the entire mainstream economics profession was caught off guard by the global financial crash and the "worst panic since the 1930s" that followed. And yet on Monday the glorification of economics as a scientific field on a par with physics, chemistry and medicine will continue.
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