Nobel Prize-Winning Economist sounds just like RP!!

[constitutionalism]

So we had Nobel Prize Winning economist, Thomas Sargeant deliver a lecture tonight at my university about the state of the global economic crisis and so many of things he said sounded exactly like Ron Paul. He talked about central banks printing money and that if we had a gold standard the government wouldn't have the ability to overspend and inflate the currency and how the inflation leads to a redistribution of wealth. Then he had this great line, something like "Economic Crises often lead to political revolutions so they shouldn't be taken lightly" and immediately the first thing that popped up was Ron Paul revolution.

 

[Danan]

But Dr. Paul doesn't agree with him on econmics. And rightly so! =)

From what I saw and read from Sargent I'm really kinda surprised to hear that he speaks positively of a gold standard.

"But Mr. Sims and Mr. Sargent say their work is being misread. Both, in fact, are longtime Democrats who maintain that government can, and should, play a role in economic affairs. They stand behind many recent policies of the Obama administration and the Federal Reserve. They even have some ideas about how European governments might defuse the running crisis on the Continent."

http://www.nytimes.com/2011/12/04/business/nobel-winners-in-economics-the-reluctant-celebrities.html


Maybe he is just changing his message because Dr. Paul already changed the hearts and minds of students all across the world? Would be great if this were true. =D

 

[malkusm]

He's at my school. He's not that great. The end.

 

[Danan]

I might add that "Nobel Prize Winning" is hardly a compliment. Two names: Krugman, Obama.

 

[emazur]

I thought so too when I heard my first report about these guys back when they won the prize, but Peter Schiff delivered a hilarious smackdown to these clowns:

 

[Narmical]

I might add that "Nobel Prize Winning" is hardly a compliment. Two names: Krugman, Obama.

Three, Gore.

Gore won the peace prize for making a movie over a lady who saved jews from concentration camps.

Fix

 

[Danan]

The skills both of them have are of course truly amazing and they are without a doubt far better skilled than I am.

But the thing is, they work in a totally screwed academic environment. They brought their neoclassical-keynesian-empiristic approach to perfection, but their model seems to be more and more irrelevant as it doesn't fit with reallity. They are mathematicians, not economists. “The kind of work we do, that real economists do, will never catch on with the public” - I serously despise this notion. "Real economists"? Again: A guy who can't even explain economic crises, the business cycle or basic economic behavior spontaneously (I was aware of the Peter Schiff Video) and who does nothing else than econometrics and empirical analysis is not an economist, but a mathematician.

I seriously think there are only to options right now for the entire profession: Either the Austrians can provoke a new dispute over method and win it outright (which I seriously doubt, they are weak in some areas too - and I consider myself an Austrian in every meaning of the word =D), or the guys at the Mises Institute and others stop to be stubborn as hell, go the way of guys like Israel Kirzner and try to merge their approach with the mainstream, if the other side becomes more open minded too. And a keynesian, democratic econometrician speaking positively about the gold standard seems to indicate this. The worse the economy gets, the higher the chances that they question their own belief system.

Maybe slightly off topic. =D

 

[Danan]

Three, Gore.

Gore won the peace prize for making a movie over a lady who saved jews from concentration camps.

Fix

Oh, this list most certainly does not claim to be exhaustive. =P

 

[ByeByeBernanke]

That guy is a complete fool.

 

[RileyE104]

I might add that "Nobel Prize Winning" is hardly a compliment. Two names: Krugman, Obama.

HAYEK!