Central Banking

Should financial economists still get Nobels?

Pablo Triana, a derivatives consultant and author, has written to the Swedish central bank, asking them to stop awarding Nobel prizes in economics to "flawed, unworldly, and dangerous theoretical finance constructs."

Triana, who is the author of Lecturing Birds On Flying: How Financial Practice Differs from Theory, a book on the flaws of theoretical finance to be published in June 2009, argues in the letter that the "main factor behind the unleashing of the crisis was the widespread use of

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