enthalpy

enthalpy

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The truth shall set you free, but first it's going to piss you off

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Monday, October 12, 2009

Posted 10/12/2009 12:04:00 PM by Douglas

The fallout from Barry's Peace Prize has just begun:

While few observers think Obama has done anything for world peace in the nearly nine months he's been in office, the same clearly can't be said for economics.

The president has worked tirelessly since even before his inauguration to wrest control of the U.S. economy from failed free markets, and the evil CEOs who profit from them, and to turn it over to wise, fair and benevolent bureaucrats.

Yet the Nobel panel chose instead to award the prize to two obscure academics -- Elinor Ostrom and Oliver Williamson -- one noted for her work on managing collective resources, and the other for his work on transaction costs.

Economics, hell. Why didn't he get the Nobel Prize for Literature? He did actually write a book, after all.

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