Nobel Prize for Economics

I just read that the prestigious Nobel people awarded this year’s prize for economics to a guy who spent most of his life (67 years) studying and teaching in universities, who finally reached the conclusion that “politicians act in their own self-interest.”

This leads us to two important questions: (1) If it took him all this time to learn that which is self-evident to just about everyone else, with the possible exception of his fellow economists, isn’t it frightening that these are the guys we rely on to advise us on how to run things? (2) If the Nobel people couldn’t find any more meaningful work going on in the field of economics, in the whole world, is it any wonder that we are in the shape we are?

I guess that next year they will probably give the award to whomever thought up Reaganomics, for making the startling discovery that, “it is better to be rich than poor”.

STANFORD THIER

Irvine