HEH: `Black Swan’ Author Says Investors Should Sue Nobel Economics Committee for Crisis. “Nassim Nicholas Taleb, author of “The Black Swan,” said investors who lost money in the financial crisis should sue the Swedish Central Bank for awarding the Nobel Prize to economists whose theories he said brought down the global economy. . . . Taleb said that the Nobel Prize for Economics has conferred legitimacy on risk models that caused investors’ losses and taxpayer-funded bailouts. Sweden’s central bank will announce the winner of this year’s award on Oct. 11.”
It's very good PR, the only problem is it would be a little like demanding that Albert Einstein give back his Nobel because someone used the knowledge to make and use a nuke. Or demanding that he give it back because he wasn't completely 100% right about everything (he didn't see the Quantum Mechanics thing coming, for example). Science is descriptive, politics prescriptive and business, well business just tries stuff until it makes them money and then they keep doing it over and over again. Demanding that the Nobel committee hold itself and its honorees to a standard of omniscience is rather poopy of M. Taleb.
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