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He didn't win a Nobel Prize. Neither did he come up with anything that actually passes muster. Getting a chocolate medal from your mates in the same club does

He didn't win a Nobel Prize. Neither did he come up with anything that actually passes muster. Getting a chocolate medal from your mates in the same club doesn't qualify as credentials.

grzm 9y ago
> Hayek shared the 1974 Nobel Memorial Prize in Economic Sciences with Gunnar Myrdal for his "pioneering work in the theory of money and economic fluctuations and ... penetrating analysis of the interdependence of economic, social and institutional phenomena." https://en.wikipedia.org/wiki/Friedrich_Hayek https://en.wikipedia.org/wiki/Friedrich_Hayek
- kybernetikos 9y ago
  I suspect that rather than quibbling on the historical facts of the prizes award, the person you're responding to doesn't consider the Swedish National Bank's Prize in Economic Sciences in Memory of Alfred Nobel to be a genuine Nobel Prize.
  - grzm 9y ago
    Thank you for the clarification. It's one I wish 'neilwilson had made as well, as it's easy to understand why one would think otherwise, particularly as they're announced and awarded along with the other Nobel laureates. Upon further reading, the prize's history with respect to Hayek is even more interesting: > In his speech at the 1974 Nobel Prize banquet, Friedrich Hayek stated that had he been consulted on the establishment of a Nobel Prize in economics, he would "have decidedly advised against it" primarily because, "The Nobel Prize confers on an individual an authority which in economics no man ought to possess.... This does not matter in the natural sciences. Here the influence exercised by an individual is chiefly an influence on his fellow experts; and they will soon cut him down to size if he exceeds his competence. But the influence of the economist that mainly matters is an influence over laymen: politicians, journalists, civil servants and the public generally." https://en.wikipedia.org/wiki/Nobel_Memorial_Prize_in_Economic_Sciences#Controversies_and_criticisms https://en.wikipedia.org/wiki/Nobel_Memorial_Prize_in_Econom... Thanks again. I appreciate the insight.
    - kybernetikos 9y ago
      That's a very interesting quote by Hayek.

He didn't win a Nobel Prize. Neither did he come up with anything that actually passes muster. Getting a chocolate medal from your mates in the same club doesn't qualify as credentials.

grzm 9y ago

> Hayek shared the 1974 Nobel Memorial Prize in Economic Sciences with Gunnar Myrdal for his "pioneering work in the theory of money and economic fluctuations and ... penetrating analysis of the interdependence of economic, social and institutional phenomena." https://en.wikipedia.org/wiki/Friedrich_Hayek https://en.wikipedia.org/wiki/Friedrich_Hayek

kybernetikos 9y ago
I suspect that rather than quibbling on the historical facts of the prizes award, the person you're responding to doesn't consider the Swedish National Bank's Prize in Economic Sciences in Memory of Alfred Nobel to be a genuine Nobel Prize.
- grzm 9y ago
  Thank you for the clarification. It's one I wish 'neilwilson had made as well, as it's easy to understand why one would think otherwise, particularly as they're announced and awarded along with the other Nobel laureates. Upon further reading, the prize's history with respect to Hayek is even more interesting: > In his speech at the 1974 Nobel Prize banquet, Friedrich Hayek stated that had he been consulted on the establishment of a Nobel Prize in economics, he would "have decidedly advised against it" primarily because, "The Nobel Prize confers on an individual an authority which in economics no man ought to possess.... This does not matter in the natural sciences. Here the influence exercised by an individual is chiefly an influence on his fellow experts; and they will soon cut him down to size if he exceeds his competence. But the influence of the economist that mainly matters is an influence over laymen: politicians, journalists, civil servants and the public generally." https://en.wikipedia.org/wiki/Nobel_Memorial_Prize_in_Economic_Sciences#Controversies_and_criticisms https://en.wikipedia.org/wiki/Nobel_Memorial_Prize_in_Econom... Thanks again. I appreciate the insight.
  - kybernetikos 9y ago
    That's a very interesting quote by Hayek.