Nobel Prize for Economics

The Nobel Prize for economics has been awarded 70 times or 67% of the time to nationals of the United States, including double nationals. This illustrates beyond dispute the unchallenged influence of the US-bred economic doctrine among the experts that advise the Royal Bank of Sweden in the process of nominating and selecting the lucky recipient of the prize since its inception.

Skeptics suggest that financial and economic crises such as those that plagued the world in 1998, and again in December 2007, and more dramatically now, in the current late and after-pandemic days, are closely related to the recipes concocted by some prominent US prize winners, and enthusiastically implemented by the US leadership at home and wherever its reach extends, meaning the whole West. That such recipes end up plunging the world into ever deepening insolvency for the swelling benefit of the holders of the world finances should not come as a surprise. The fact that the wizard recipients of the prize are selected by a bank, namely the Royal Bank of Sweden, is revealing. The core business of banking being to extract rent through the process of creating debt by lending money, banks can't but bless any rationalizations that may drive people to sink in debt, and spend their lifetime struggling to pay interest to feed the financiers' rent.

The inability of central banks to contain the current inflationary strain, with rates exceeding 10% on such basic needs as food, health and education, exposes their inanity... isn't their priority mission to keep inflation below 2%?

Obviously, the high priests of official economics discard skepticism as loathsome heterodoxy — better still they plainly ignore it and throw it into oblivion. Whatever the flavor, the economic thinking that catches the attention of the Royal Bank of Sweden, and a fortiori is eligible to the award, never dares to step over the red line of orthodoxy, however unrealistic this may be. The system is securely locked: only devotees of the official dogma qualify for careers, prestige and awards in the realm of economics. The Nobel committee, as well as the clerics of official economics, stick to the view that the sun revolves around the earth, and the earth still is and will remain flat. The Copernicus, Galileo and Magellan of economics will have a hard time to shake the walls of orthodoxy.

In the chart, former Soviet Union appears under Russia. Double nationals appear twice, once for each nationality.

   Take a look at the complete list of Nobel prizes for economics

Sources: Nobelprize