"Fama, 74, is notorious in left-wing circles for denying that financial bubbles exist and asserting that recessions are a largely unexplainable fixture of capitalism that should be allowed to take their course."
It should be noted that the Nobel prize in economics is nothing to do with the Nobel Prize or the Nobel family.
"Although not one of the Nobel Prizes established by the will of Alfred Nobel in 1895, it is identified with them, and prizes are announced with and awarded at the same ceremony."
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[ 5.8 ms ] story [ 18.8 ms ] thread"Fama, 74, is notorious in left-wing circles for denying that financial bubbles exist and asserting that recessions are a largely unexplainable fixture of capitalism that should be allowed to take their course."
It should be noted that the Nobel prize in economics is nothing to do with the Nobel Prize or the Nobel family.
"Although not one of the Nobel Prizes established by the will of Alfred Nobel in 1895, it is identified with them, and prizes are announced with and awarded at the same ceremony."
http://en.wikipedia.org/wiki/Nobel_Memorial_Prize_in_Economi...
The Nobel Foundation also lists the Prize in Economic Sciences on their website:
http://www.nobelprize.org/nobel_prizes/economic-sciences/