Austrian AV Club – Bob Murphy on the Nobel Prize and the US Dollar

  • Layman View

    What a wonderful conversation ! A Beautiful Mind … Physics won The Nobel in economics for this precise reason. Guys, imho it is definite economics because of the resulting outcomes of these formulas that have an impact on society when implemented by corporations that set the standard and future norms for business standard operating procedures. Just like the demographics models that corps use. eg, A Chuck E. Cheese will not come to any location UNLESS there is a Toys R US there, and they will not come to a location unless a Steak & Ale or Red Lobster is there, etc.etc. The problem IS that any of these business would or could be profitable using local demographics, but they use a formula or model based on the initial company's profit margin not theirs, which has a definite impact on local economies, hence … Economics.