Monday, October 13, 2014

Joe Salerno on the Nobel Prize Award to Jean Tirole

Salerno writes:
[T]he prize was given to Jean Tirole, a French engineer, mathematician and economist for advancing “The Science of Taming Powerful Firms,”  Tirole for all his brilliance is a garden variety neoclassical economist...

Tirole was awarded the Nobel prize for concocting complex technical solutions to what Austrians have long known and taught to be pseudo-problems for a dynamic market economy driven by rivalrous competition among entrepreneurs eager to earn profits by anticipating and serving ever-changing consumer demands.

1 comment:

  1. The award is handed out by a central bank and as such will never be given to an economist of the Austrian School. Its expecting Good Old Honest Abe or the Featherduster finally being toppled from the lists of the greatest presidents of all time by US history professors.