This year’s prize for the the beginnings of financial macro was designed to show showcase how economic science makes progress
Thanks, David.
But nothing in the Nobel history about the huge debt-financed real estate bubbles behind the crash in 1929 and 2008. Let's hope someday others than Mason Gaffney and Richard Vague will recognize that reality.
David, thank you for the clear explanation of why Bernanke, Diamond and Dybvig got the Nobel. -Mary
Thanks, David.
But nothing in the Nobel history about the huge debt-financed real estate bubbles behind the crash in 1929 and 2008. Let's hope someday others than Mason Gaffney and Richard Vague will recognize that reality.
David, thank you for the clear explanation of why Bernanke, Diamond and Dybvig got the Nobel. -Mary