Nobel Prize in Economics

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Princeton Poverty Expert Wins Nobel in Economics

Angus Deaton 'surprised and delighted'

(Newser) - A Princeton professor renowned for his study of welfare, poverty, and individual consumer choices has won this year's Nobel in economics, reports the New York Times . In honoring Angus Deaton, 69, the Nobel panel noted that "to design economic policy that promotes welfare and reduces poverty, we must... More »

2 Americans Win Economics Nobel for Strides in Matching

Winner of African governance prize: No one

(Newser) - Americans Alvin Roth and Peter Shapley have won the Nobel prize for economics on the strength of their work matching players in a wide range of markets, the Wall Street Journal reports. "For example, students have to be matched with schools, and donors of human organs with patients in... More »

Economists Demand 'Robin Hood' Tax on Speculators

Fee would go to fight poverty, climate change

(Newser) - Hundreds of the world's leading economists want banks to pay for the mess they've made—with an international " Robin Hood tax " that would raise funds to fight climate change and global poverty. Some 350 economists from 35 countries, including two Nobel prizewinners, have written to G20 leaders urging... More »

Legendary Economist Paul Samuelson Dead at 94

Nobel laureate write classic intro text for 'dismal science'

(Newser) - Paul A. Samuelson, the first American Nobel laureate in economics and a familiar name to generations of college students, died today at his home outside Boston. He was 94. Ben Bernanke praised his former MIT professor as "a titan of economics," and a colleague said of their fellow... More »

2 Americans Win Econ Nobel, Including 1st Woman

Professors cited for research into economic governance

(Newser) - The Nobel Prize in economics was awarded today to two US professors—one of whom is the first woman ever to win the prize—for their research into decision making in structures outside of markets. Elinor Ostrom, of the University of Indiana, was cited for her study of the commons,... More »

US Too Scared to Take On Monster Banks: Stiglitz

it's 'outrageous' bonuses aren't being curtailed, says economist

(Newser) - Underlying financial problems posed by ever-growing monster banks are worse now than before the economic crisis, but the Obama administration is reluctant to take them on, warns a Nobel Prize-winning economist. The so-called "too-big-to-fail banks" have become even bigger, and their troubles will further threaten the economy, Columbia University... More »

Reappoint Bernanke: Krugman

(Newser) - If there’s any justice, Ben Bernanke will get another go-around at the helm of the Federal Reserve, Paul Krugman tells Bloomberg. “He’s earned the right to a second term,” the Nobel laureate says. “When the banking system failed to deliver capital where it was needed,... More »

NYT's Krugman Wins Nobel Economic Prize

Globalization expert blames Bush for current crisis

(Newser) - Paul Krugman was awarded the Nobel Prize for Economics this morning, Reuters reports, in recognition for his work on globalization and free trade. Krugman, a New York Times columnist, Princeton professor, and staunch Bush critic, has long been a favorite for the award, but says it came as a surprise... More »

From Clerk to Rogue Trader to Facebook Laughingstock

SocGen fraudster's woes include poking

(Newser) - You don’t need a fancy education to lose $7.2 billion and become an Internet laughingstock. In the clubby world of French banking, Société Générale traders are usually the Gallic equivalent of Ivy League MBAs, but Jérôme Kerviel, a lowly biz school grad, worked... More »

3 Americans Share Nobel in Economics

Prize awarded for mechanism design theory

(Newser) - Americans Leonid Hurwicz, Eric Maskin, and Roger Myerson have won this year’s Nobel Prize in economics for developing "mechanism design theory,"  which indicates when markets are working effectively, Reuters reports. The theory can be used to assess the factors which make individuals and corporations deviate from... More »

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