This article was first published on AlterNet
It’s Nobel Prize season again. News reports are coming out each day sharing the name of the illustrious winner of the various categories — Science, Literature, etc. But there’s one of the prizes that’s a little different. Well, that’s putting it lightly… you see, the Nobel Prize in Economics is not a real Nobel. It wasn’t created by Alfred Nobel. It’s not even called a “Nobel Prize,” no matter what the press reports say.
The five real Nobel Prizes—physics, chemistry, literature, peace, and medicine/physiology—were set up in the will left by the dynamite magnate when he died in 1895. The economics prize is a bit different. It was created by Sweden’s Central Bank in 1969, nearly 75 years later. The award’s real name is the “Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.” It was not established by Nobel, but supposedly in memory of Nobel. It’s a ruse and a PR trick, and I mean that literally. And it was done completely against the wishes of the Nobel family. (more…)
Like typical Randroid libertarians, they find the public’s gullibility and good faith contemptible. This is something that Americans still can’t get their heads around about the free-market libertarians who’ve ruled us and ruined us over the past three decades.
Here is the private letter from Charles Koch to Nobel Prize economist Friedrich Hayek, godfather of today’s free-market movement. The letter was obtained by Yasha Levine from the Hayek Archives at the Hoover Institution at Stanford University. It is part…
There’s right-wing hypocrisy, and then there’s this: Charles Koch, billionaire patron of free-market libertarianism, privately championed the benefits of Social Security to Friedrich Hayek, the leading laissez-faire economist of the twentieth century. Koch even sent Hayek a government pamphlet to help him take advantage of America’s federal retirement insurance and healthcare programs.
Adam Curtis has just posted a must-read blog that tries to answer the big political dead-end we face today: Why can’t we think up any new ideas besides the failed libertarian free-market ideology that brought us to ruin? Curtis’ answer: We’re all prisoners of the Libertarian Think-Tank Archipelago.
This article was first published in Alternet. Now that the shock of the Gabrielle Giffords shooting is starting to wear off and the country is returning to its normal insanity again, we’re back to facing a far worse, far more…
Exiled Online editor Mark Ames delivers an address to the nation on MSNBC’s The Dylan Ratigan Show. The subject: A quick history lesson on why “austerity” is the worst, most insane idea imaginable to solve America’s economic woes–and how John…
