"Nobel" prize in Econ.

[Brad De Long]

>On Sat, 10 Oct 1998, Picciotto, Sol wrote:
>
>> According to the Financial Times, the Nobel prize fund has been
>> badly hit by the plunging markets, so there may not be enough cash
>> in the pot to hand out. Maybe they should have a moratorium on the
>> Economics prize this year, as its previous winners seem to have
>> suffered a collision with reality.
>
>That would certainly be fun, but the Economics prize is funded by some
>Swiss bank(s), isn't it?  I mean, it's not a *real* Nobel Prize, is
>it?  Alfred didn't set it up and I don't believe his legacy pays for
>it.
>
>Somebody please correct me if I'm wrong.
>
>--
>
>Joseph Noonan
>jfn1 at msc.com

Wouldn't you rather have a prize funded by a nice friendly bank than by the
royalties from high explosives?

Brad DeLong

(Who commissioned an article celebrating the intellectual achievements of
Merton and Scholes about six months ago, and now is eagerly waiting to see
what the ms. will look like.)