[lbo-talk] vote on econ nobelist

[Luke Weiger]

> Michael Jensen, theorist of the LBO? He was onto several things - the
> free cash flow problem was something that Monthly Review's been
> writing about for decades, and the agency problem is no small matter
> - but his prescriptions were disastrous. And he's a political ghoul.
> I love his 1989 list of "obstacles to economic progress": "striking
> Eastern Air Lines pilots, Pittston Coal miners, [and] New York
> Telephone employees, who seem perfectly content to destroy or damage
> their employer's organization while attempting to serve their own
> interests. Ralph Nader's consumer activist organization is another
> example." On second thought, maybe that makes him eminently qualified
> for the Nobel!
>
> Doug

They've given the Nobel to folks (e.g. Amartya Sen) we (presumably) all
like, haven't they?

-- Luke