Sure, winning the Nobel prize in economics is nice, but the hottest competition may be for the Dynamite prize in economics. This new award is going to be handed out to the three economists who contributed most to blowing up the global economy.
Among the contenders are Alan Greenspan, Milton Freedman and Larry Summers. The Real-World Economics Review blog, which is running the competition, sums up Summers’ contribution this way: “As US Secretary of the Treasury (formerly an economist at Harvard and the Word Bank), he worked successfully for the repeal of the Glass-Steagall Act, which since the Great Crash of 1929 had kept deposit banking separate from casino banking. He also worked with Greenspan and Wall Street interests to torpedo efforts to regulate derivatives.”
Vote for your favorite (or least favorite, as the case might be) at Real-World Economics Review blog. No money will be awarded, but think of the fame.
Freelance business journalist Ian McGugan blogs for the Financial Post.