Nobel Prize in Economics

Today Eugene Fama, Lars Peter Hansen and Robert Shiller share the 2013 The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.

While I do not share some of their beliefs (Fama’s efficient market hypothesis based on rational expectations or Shiller’s irrational exuberance are a few examples), I can only but welcome the award of the prize to pro-free markets academics.

Congratulations!

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