Getbig.com: American Bodybuilding, Fitness and Figure
Getbig Main Boards => Politics and Political Issues Board => Topic started by: SAMSON123 on October 14, 2010, 11:58:31 PM
-
To even read their theories is assinine. TO take them ass credible is offensive. They are pushing the ideology that unemployment is VOLUNTARY and all one has to do is lower their standards and tehy will find a job. Problem is a person can lower their standards to five dollars per hour, but will their bills/rent/mortgage/car notes/tuition/etc be lowered accordingly??? Don't think so....
Nobel Peace Prizes For Explaining Why Markets Fail
By MarketWatch
WASHINGTON (MarketWatch) — Three economists — including one rejected by the Senate as too inexperienced to work at the Federal Reserve — have won the Nobel prize in economics for their work in explaining why markets sometimes don’t work so well.
VIDEO http://www.marketwatch.com/video/asset/am-report-trio-wins-nobel-in-economics/AE072E79-5A1C-4350-B13B-C3DAAA534B61
(http://o.aolcdn.com/photo-hub/news_gallery/6/8/689667/1286809698550.JPEG)
Trio Wins Nobel in Economics
Peter Diamond (center), Dale Mortensen (right) and Christopher Pissarides win the 2010 Nobel economics prize for their work developing theories that help explain how economic policies affect unemployment.
Specifically, Peter Diamond of MIT, Dale Mortensen of Northwestern University and Christopher Pissarides of the London School of Economics were honored for their insights into unemployment. It’s certainly a timely topic. Read MarketWatch’s related article on the 2010 prize.
The problem with unemployment is that, theoretically, it shouldn’t exist. Efficient market theory says unemployed workers should always be able to find a job if they just lower their standards enough, just as all employers should be able to find workers if they just lower theirs.
By this theory, all unemployment is voluntary.
Diamond, Mortensen and Pissarides reject that theory, arguing that it’s costly to find just the right job — that is, one that matches your skills and abilities and pays you what you are worth. From the employer’s point of view, it’s just as costly: All the applicants look pretty much the same at first; it’s not easy to tell beforehand if they can do the job, or whether you can find someone who’ll do the job for less. Searching, in sum, is costly.
The upshot of this research is that this searching — they called it “friction” — can make markets inefficient. Taking the first job offered, or hiring the first applicant would mean the economy wouldn’t work as well as it could. We’d get Ph.D.’s driving cabs, and high-school dropouts running nuclear plants.
Sometimes government policies can reduce the inefficiencies, but sometimes they can make them worse. Providing unemployment benefits can keep workers from accepting the wrong job out of desperation, but providing too many benefits can lead to search times running even longer than necessary.
The research begun by Diamond, the one whose nomination to the Fed was left languishing by the Senate, as well as Mortensen and Pissarides has been extended into other markets and other economic conundrums, helping us to understand how markets actually work, and how we can make them work better.
-
THose fucking nerds wouldn't last a fucking day if their surreal world of economic reality crumbled into a SHTF scenario. They'd probably be sucking some felon's cock to stay alive.
-
THose fucking nerds wouldn't last a fucking day if their surreal world of economic reality crumbled into a SHTF scenario. They'd probably be sucking some felon's cock to stay alive.
I just don't understand how or why anyone would think of their theories as something worthy of a Nobel. I guess the Nobel really isn't as much or as big a deal as it has been made out to be. I am sure I have done something to earn one myself...Hmmmm? Lemme think for a minute before I contact them about nominating myself as a recipient.
-
I just don't understand how or why anyone would think of their theories as something worthy of a Nobel. I guess the Nobel really isn't as much or as big a deal as it has been made out to be. I am sure I have done something to earn one myself...Hmmmm? Lemme think for a minute before I contact them about nominating myself as a recipient.
Ha ha ha - at this point you are as good a shoe in as anyone.
Shit - nominate me - I have been more accurate than many of these fools.
if anyone deserves a prize its Schiff & Celente who got laughed at.
-
The list is not complete until I see Al Gore
-
The list is not complete until I see Al Gore
Complete