[p2p-research] Fwd: real-world economics review - The Ignoble and Noble Prizes for Economics

Wed Jan 13 08:42:33 CET 2010

---------- Forwarded message ----------
From: real-world economics review <pae_news at btinternet.com>
Date: Tue, Jan 12, 2010 at 4:03 PM
Subject: real-world economics review - The Ignoble and Noble Prizes for
Economics
To: michelsub2004 <michelsub2004 at gmail.com>

     For Immediate Release

 The  *Real-World Economics Review Blog*
<http://www.feedblitz.com/t2.asp?/332386/8347871/3267610/http://rwer.wordpress.com/>
is
holding polls to determine the awarding of two prizes:

   -  * The Ignoble Prize for Economics * , to be awarded to the three
   economists who contributed most to enabling the Global Financial Collapse
   (GFC), and
   -  * The Noble Prize for Economics * , to be awarded to the three
   economists who first and most cogently warned of the coming calamity.

   It is accepted fact that the economics profession through its teachings,
pronouncements and policy recommendations facilitated the GFC.  We also know
that danger signs became visible long before the event and that some
economists (those with their eyes on the real-world) gave public warnings
which if acted upon would have averted the human disaster.

 With other learned professions entrusted with public confidence, such as
medicine and engineering, it is inconceivable that their professional bodies
would not at the very least censure members who had successfully persuaded
governments and public opinion to ignore elementary safety measures, so
causing epidemics and widespread building collapses.

 To date, however, the world’s major economics associations have declined to
censure the major facilitators of the GFC or even to publicly identify them.
This silence, this indifference to causing human suffering, constitutes
grave moral failure.  It also gives license to economists to continue to
indulge in axiom-happy behaviour.  Nor has the economics establishment
offered recognition to those economists who were not taken in by fads and
fashion and whose competence, if listened to, would have prevented the
collapse.

 * These two silences reveal a continuing moral crisis within the economics
profession * . The Ignoble and Noble Prizes for Economics are being offered
as small first steps towards a cure.

* Poll Procedures for the Ignoble Prize for Economics  *

*  Stage One: Nominations and Evidence  *

 Nominations for both prizes are open to the international community of
economists, rather than limited to a closed and secret shop.  For each
nominated economist an evidence page will be opened on
http://rwer.wordpress.com/
<http://www.feedblitz.com/t2.asp?/332386/8347871/3267610/http://rwer.wordpress.com/>
to
which people can leave evidential comments. In this way a documented case
for (and against) each candidate will be built up.

 There are two ways, one direct and the other indirect, by which *you* can
nominate and post evidence.

*  *

*
Direct Method *

*  *

You can *nominate* economist X  or economists X and Y, or X, Y and Z
(maximum of three) by leaving a comment on the * Nominations for the Ignoble
Prize for Economics
<http://www.feedblitz.com/t2.asp?/332386/8347871/3267610/http://wordpress.com/nominations-for-the-ignoble-prize-for-economics/>
*page for which there is a link near the top of the blog’s home page’s right
hand column.  Your comment needs only to say “I nominate X . . . for the
Ignoble Prize for Economics.”

 You can *post evidence* regarding a nominated economist by leaving a
comment on their evidence page, which in most cases will be opened within 24
hours of their nomination. These pages are sub-pages of the “Nominees and
Submission of Evidence” page and will be link-listed in a box near the top
of the home page’s right hand column.

*  Indirect Method  *

*  *

Because of the current nature of the economics profession, some economists
will fear that going public with their professional views on these matters
could jeopardize their careers or those of people associated with them.
Therefore nominations and evidence can be put forward anonymously by
emailing them to  pae_news at btinternet.com  <pae_news at btinernet.com> ,
preferably with the subject heading “Nominations and Evidence”.  The editor
will then post the material on the relevant pages.  Strict confidentiality
will be maintained.

*  Stage Two: Short List  *

*   *

 After an appropriate interval, most likely one month, nominations and the
submission of evidence will be closed.  Through consultation, authors of the
Real-World Economics Review Blog will compile a short list of the strongest
nominees, probably 10 or 12.  At this time a final dossier, based on the
evidential comments posted on the blog, will be compiled and posted for each
short-listed candidate.  Voting will then open.

*  Stage Three: Voting  *

*   *

 The voting will be conducted using PollDaddy.  Its system uses cookies to
prevent repeat voting.  A voting box showing the short-listed candidates
will be displayed prominently on the home page of the Real-World Economics
Review Blog.  Close by will be links to each candidate’s final dossier.  Voting
is open to all interested parties. Each voter can vote for up to *three* of
the listed candidates.  The ballots are secret.  Voting will remain open for
several weeks.  No results will be announced before closing the poll.

 * Stage Four: Results

 * Within 24 hours of the closing of the poll, the results will be
announced.  The *three *economists receiving the highest number of votes
will be declared the joint winners of the prize.

*  General Rules  *

 Only economists may be nominated, and they must have been active during
part of the last quarter century.  Joke nominations (e.g., Baker, Keen or
Roubini for the Ignoble Prize) or ones suspected of being motivated by
malice or for which no supporting evidence is forthcoming will not be
accepted or allowed to stand.  Likewise evidence submitted must be
substantive, accurate and presented in good taste.

* Poll Procedures for the Noble Prize for Economics  *

 These will be approximately the same as for the Ignoble Prize, but may be
adjusted in view of lessons learnt.  It is expected that nominations and
submission of evidence for this prize will commence when voting for the
Ignoble Prize begins.

  * Nominations and submissions of evidence for the Ignoble Prize for
Economics are now open at  http://rwer.wordpress.com/
<http://www.feedblitz.com/t2.asp?/332386/8347871/3267610/http://rwer.wordpress.com/>
 *

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