4.7 • 9.2K Ratings
🗓️ 12 October 2022
⏱️ 10 minutes
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0:00.0 | NPR. |
0:11.6 | When the economic snow bell gets announced, we hear the names of some very worthy economists, |
0:17.6 | but we have to admit it, these are not people that the average person on the street is going |
0:21.1 | to get excited about, apart from maybe us, of course, at the indicator. |
0:25.5 | These are academics who work on contract theory or the best way to run an auction. |
0:30.8 | These are typically not controversial public figures. |
0:34.4 | In memory of Alfred Nobel. |
0:36.8 | But this year was a little different. |
0:39.0 | To Ben Benanke. |
0:41.6 | So along with Douglas Diamond and Philip Diffig, Ben Benanke won this year's prize in economics. |
0:47.5 | Ben Benanke, of course, is the former chair of the US Federal Reserve. |
0:52.2 | And he was the captain steering the ship that was the US economy through the big financial |
0:57.3 | crisis of 2008 and 2009. |
1:00.7 | The bank bailouts that he led were controversial on the left. |
1:09.1 | And on the right. |
1:10.1 | We're being played for the sucker. |
1:11.7 | And so we weren't the only ones scratching our heads when we first heard that a prominent |
1:16.8 | policymaker had won the prize. |
1:19.7 | And Kutner is an economist at Williams College. |
1:22.4 | My initial reaction, like up to the first 30 seconds, was like, oh, that's surprising. |
1:26.8 | I would not have occurred to me. |
1:28.3 | But then, you know, thinking about it for, you know, five or ten minutes afterwards |
... |
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