Wednesday, October 14, 2009

Obama fails to win Nobel for Economics

U.S. President Barack Obama wins the Nobel Peace Prize but loses out on the Economics Nobel.

So writes Tom Bemis in this article on Market Watch.

Obama wins the Nobel Peace Prize within a very short tenure in office and that is the target of this sarcastic but bending towards truth article.

Tom Bemis mentions that Obama loses out on the Economics Nobel to "two obscure academics -- Elinor Ostrom and Oliver Williamson -- one noted for her work on managing collective resources, and the other for his work on transaction costs."

And this in spite of his good work in stabilizing the U.S. & world economies, the Stimulus package, Cash for Clunkers program, cap-and-trade bill, and many more real life implementations of Economics theories in such a short duration.

The strange part about all this is that the deadline for nominations for Nobel Peace prize is February 1st according to the Nobel Prize website. Since Obama took the oath on January 20th, it was only 12 days since he was in office when he must have been nominated for this prize - that's a pretty good achievement I would say!

Here's another article on Fox News which looks at the work done by Obama in the 12 days culminating to his nomination.

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