Did The Nobel Committee Err?

Tuesday, October 10, 2006
It appears that they have awarded the economics prize to a capitalist who doesn't see the EU as the best of all possible worlds. True, one might become a bit uneasy reading that; "I broadly subscribe to the conception of economic justice in the work by John Rawls." but he ameliorates that subscription by devoting some effort to distinguishing self-realization in monetary terms alone as being an insufficient determinant of "equality" of potential for self-realization and actually raises the issue of equality for those disgusting creatures who seek self-realization through entrepreneurship. I'm surprised that the Nobel committee didn't boot him for that alone.

Phelps comes close to sounding as if he might provide some interesting reading. Now that's something that DeLong and Krugman will never achieve.

3 comments:

David Thomson said...

I have utter contempt for the works of John Rawls. He was supposedly a warm and friendly man. I probably would have liked him on a personal basis. Nonetheless, Rawls was an intellectual light weight. Oh well, this Nobel prize winner at least has got his act together on the other stuff.

Rick Ballard said...

DT,

Lightweight is too harsh, unless you're speaking of DeLong or Krugman, of course. Rawls was another egalitarian utopian with a materialist bent. I'm interested to know where Phelps went with Rawl's concept of justice.

David Thomson said...

"I'm interested to know where Phelps went with Rawl's concept of justice."

I doubt very much if he really gave John Rawls more than a few minutes of his time. The late Harvard professor was known to be warm and friendly. A lot of people feel obligated to throw him a few bones. After all, that equality stuff sounds so wonderful. Who could possibly be against such humane sentiments? Not everyone is a low life disgusting person like myself.