Bernanke, Diamond, Dybvig share Nobel prize in economics

[BumRushDaShow]

Source: Reuters

STOCKHOLM, Oct 10 (Reuters) - Ben Bernanke, Douglas Diamond and Philip Dybvig won the 2022 Nobel Economics Prize "for research on banks and financial crises", the Royal Swedish Academy of Sciences said on Monday.

The prize, formally known as the Sveriges Riksbank Prize in Economic Sciences in memory of Alfred Nobel, is the last of this year's crop of Nobel awards and sees the winners share a sum of 10 million Swedish crowns ($883,954).

($1 = 11.3128 Swedish crowns)

Read more: https://www.reuters.com/world/bernanke-diamond-dybvig-share-nobel-prize-economics-2022-10-10/

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BREAKING NEWS:
The Royal Swedish Academy of Sciences has decided to award the 2022 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel to Ben S. Bernanke, Douglas W. Diamond and Philip H. Dybvig “for research on banks and financial crises.”

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5:48 AM · Oct 10, 2022

[bucolic_frolic]

1. Yeah, but we were the experiment

[rampartc]

2. how to crash an economic system for fun and profit

don't worry. the peons will pay for it and give out big bonuses as well.

may as well give a peace prize to kushner and the crown prince while they're at it.

[speak easy]

3. 'how to crash an economic system for fun and profit' - Let's Do It Again !!

cruella de steal never grows old

[appalachiablue]

13. awesome...

[Farmer-Rick]

4. I hope they know it is a fake Nobel prize .....

There never was an economic prize established by Alfred Nobel. Some Swedish banker set up the economic prize to promote capitalism and "free" markets in 1968.

The Media likes to pretend it's the same as the Peace prize or prize for literature but it's not.

When Nobel in 1895 set up the prizes it was to honor the best in the field. But the economic prize is designed to promote capitalism and "free" markets. Not as a way to honor the best in economics. Not a single socialist, who also have a viable economic theory, has ever been awarded the prize.

The prize is a propaganda tool not a recognition of expertise or outstanding positive affects on the world.

[Dorn]

6. So true -- lets have a Nobel prices for posts to DemocraticUnderground

Democratic Underground prize in Political Discourse in Memory of Alfred Nobel

[Farmer-Rick]

7. Exactly

I think we should do a Socialist Nobel Prize.

We'll put up a bunch of money to award to the best socialist theory, no fascists allowed, in honor of good old Alfred.

[ancianita]

12. +1

[former9thward]

8. Its not fake.

The prize is awarded by the Nobel Foundation just like the other categories. Yes, it was established in 1968 but so what? Was Alfred Nobel God or something?

[Farmer-Rick]

9. It does not use Nobel's money

And wasn't established by Nobel.

It is funded by a bank.....a bank.....

I think it does use the same Nobel committee but if you have a link to confirm this it would be more believable. I couldn't find one. Just vague comments about it being awarded like the other established awards. Which doesn't mean it uses the same foundation.

If a bank can start a Nobel prize what's stopping any rich man from doing it? What about a rich church starting a Nobel? I mean it seems that it only takes some money.

You wouldn't have to use the same Nobel committee. You could just call it in honor of Alfred Nobel. How about the Trump award for confidence schemes in honor of Nobel? I'm sure Trump and Putin would be willing to pay for it.

[former9thward]

10. This is the official site of the Nobel prize.

https://www.nobelprize.org/

They award the economic prize. I don't think whoever funds it means too much. Nobel only had so much money. But it is the same committee. If someone wanted to fund a Nobel for climate change I doubt too many would object to it.

[Farmer-Rick]

11. Advocating for "free" markets is not in the same league

In fact advocating for "free" markets is probably the opposite of advocating for peace or to end global warming. (I assumed you were against global warming.)

But thanks for the link and it says the Academy awards it. And it looks like some of the judges are from the bank that pays for it. So, when bankers vote on a prize you can bet it won't be for the good of the majority of the world.

It does matter if Nobel established it or some rich bank that makes billions off stocks funds a prize by hiding behind an established honored award. The Nobel prize has come to mean more than a rich man trying to appease his guilty conscience. It actually has some gravatus because it attempts to be unbiased in the long run.

The bank actively still funds the prize and sits in judgement on who did their best to make them richer.

[appalachiablue]

14. No banker left behind...pleease

[Dorn]

5. EXACTLY : THERE IS NO NOBEL PRICE IN ECONOMICS!

It is

Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel