"Any headline which ends in a question mark can be answered by the word no."
"Any headline which ends in a question mark can be answered by the word no."
People keep saying this like it's some profound insight or knock against economics.
The Nobel Memorial Prize is still one of the highest possible awards in the field. It doesn't diminish Schiller's standing just because it wasn't one of the original Nobel Prizes.
It's sort of like pointing out that "Best Animated Feature" is not a real Oscar because they only started awarding it in 2001.
Your analogy with the Oscars is spurious. If Nobel wanted a prize in economics, tiddlywinks, synchronised swimming, aromatherapy or anything else he probably would have mentioned it in his will. Economics existed in the days before he popped his clogs so he could have had a prize for it if he wanted, but he didn't. Sometimes you have got to respect a man's will, not twist it into something it isn't. That is dishonourable.
As for the Oscars, technology changes and the "Best Animated Feature" award is there to recognise those CGI extravaganzas - nobody can really argue with that. They haven't branched out and given an extra Oscar for "Best Economist in a Government Think Tank" or anything weird like that, have they?
Allegedly members of the Nobel family have called for the joke that is the "Nobel Memorial Prize in Economic Sciences" to be stopped, I guess they have had a bit longer to think about it than you have.