Word: nobelity
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...face of a war in Afghanistan that is going badly and getting worse. "Gates has too much experience in D.C. not to get out when he's on top," says an old friend and admirer. But has he waited too long this time? (See photos of Obama accepting the Nobel Peace Prize...
...Jury's Still Out Your naming Ben Bernanke as Person of the Year reminds me of the Nobel Peace Prize given to President Obama: both men are being congratulated in advance of any results [Dec. 28 - Jan 4]. Don't forget that Bernanke could be wrong, and then we might find the medication is worse than the illness. The final judgment will not come for a couple of years. Jean Claude Pivot Vourles, France
Bankers are born no greedier than the rest of us. That assertion alone makes Joseph Stiglitz's comprehensive postmortem stand out from the reams of books published so far about the financial crisis. Instead of attacking individuals, the Nobel Prize--winning economist faults the system that delivered us to the brink, citing the effects of everything from deregulation to the misaligned incentives of people selling financial products. But Stiglitz has his sights on a larger problem as well. For too long, he argues, economists and policymakers have relied on the erroneous assumptions that markets are fundamentally efficient and material wealth...
...determined by GDP. And the Genuine Progress Indicator, which incorporates aspects of social welfare such as income equity, pollution, and access to health care. In the international community, perhaps the biggest nudge has come from French President Nicolas Sarkozy, who commissioned a report by marquee-name economists, including Nobel laureates Joseph Stiglitz and Amartya Sen, to find alternatives to what he calls "GDP fetishism". (See the best business deals...
Even as Glaciergate - yes, that's what they're calling it - unfolded, there were new claims that the IPCC had essentially trumped up the link between climate change and the rising toll from natural disasters. IPCC chairman Rajendra Pachauri, who accepted the group's Nobel in 2007, had to dodge calls for his resignation amid charges that he was benefiting financially from global-warming research. Very suddenly the global body that had seemingly closed the case on climate change was springing more leaks than, well, a melting glacier. (See pictures of this fragile earth...