Bernanke, Diamond, Dybvig share Nobel prize in economics

[Farmer-Rick]

4. I hope they know it is a fake Nobel prize .....

There never was an economic prize established by Alfred Nobel. Some Swedish banker set up the economic prize to promote capitalism and "free" markets in 1968.

The Media likes to pretend it's the same as the Peace prize or prize for literature but it's not.

When Nobel in 1895 set up the prizes it was to honor the best in the field. But the economic prize is designed to promote capitalism and "free" markets. Not as a way to honor the best in economics. Not a single socialist, who also have a viable economic theory, has ever been awarded the prize.

The prize is a propaganda tool not a recognition of expertise or outstanding positive affects on the world.