Nobel Prize for Economics

Two days ago I published a post referring to the fact that the
Nobel prize for Economics has been given largely to conventional economists with a “classical” neoliberal outlook. The prize therefore strengthened the belief that this branch of economics is “correct”. Politicians, as a consequence, were inclined to “privatize”, “outsource” etc. as a remedy for any problems. Anybody disagreeing was labelled an ignorant: out of touch with modern developments in economic theory. This year’s prize has now been given to two economists who have shown that “outsourcing” often is not the best way to go, and that community administered resources are often better distributed than privately owned ones. In other words, privatization and leaving everything to free markets are not always the best approach. – I arrived at the conclusion that free market economics has flaws, i.e. that each case in economy has to be treated individually, some time ago based on a comparison of ecological and economical principles. See my knol:

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