The Economics Nobel Highlights a Big Unanswered Question
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Oct. 14 (Bloomberg) -- The awarding of a Nobel Prize tothree economists with divergent views on the working of marketshighlights a troubling truth about the state of the discipline:We still don’t know nearly enough about why the prices ofstocks, bonds and other assets move the way they do.
If the economics profession wants to help the world avert -- or at least better survive -- financial crises, it will haveto be more open to new ways of looking at this question.