Friday, October 16, 2015

Snake Oil

Key member of Swedish Academy of Sciences calls for immediate suspension of the “Nobel Prize for Economics”:
The Prize in contravention of the spirit of Nobel’s will Can contribute to increased corruption. Multiple independent research shows that those who study economics are more prone to corruption. And the behavior seems to be an effect of education. A price that risk contribute to increased corruption in the world is in conflict with the spirit of Nobel’s will, writes political science professor Bo Rothstein. 
It is also problematic in light of Sweden distributes one of the world’s most prestigious scientific awards in the subject, namely the Nobel Memorial Prize in Economic Sciences, in everyday speech the Nobel Prize in economics. The price was not found in Alfred Nobel’s original testament of 1895 but were added by a donation from Sweden Riksbank in 1968. Responsible party for the dividend is the Royal Swedish Academy of Sciences.
Three more points:
  • What else can one expect from a traveling medicine show pedaling snake oil?
  • Of course it is corrupt, but there are different flavors, including intellectual.
  • An ideology masquerading as a science is inherently corrupt--why else would it need to parasitically attach itself to Nobel's legacy?

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