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Not the Nobel Prize: Finding fresh economics ideas for the 21st century

Summary:
Promoting Economic Pluralism is an organisation aiming promote pluralism in economics. It has instituted a new award – Not the Nobel Prize– which will be awarded on 3 October 2019, ahead of Nobel economics which is on 14 Oct. It says that Nobel prizes have been given to ideas which has led to ecological breakdown: Our economic system is driving us towards a perfect storm. We are facing ecological breakdown. Rising debt is threatening a new financial crash. Inequality is pulling societies apart. For 50 years, the scientific prestige of the Nobel Prize has given authority to economic ideas at the heart of this system. And even though the stark consequences of the 2008 financial crisis are still felt today, these out-dated ideas remain dominant. We urgently need to reroute society away

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Promoting Economic Pluralism is an organisation aiming promote pluralism in economics.

It has instituted a new award – Not the Nobel Prize– which will be awarded on 3 October 2019, ahead of Nobel economics which is on 14 Oct. It says that Nobel prizes have been given to ideas which has led to ecological breakdown:

Our economic system is driving us towards a perfect storm. We are facing ecological breakdown. Rising debt is threatening a new financial crash. Inequality is pulling societies apart.

For 50 years, the scientific prestige of the Nobel Prize has given authority to economic ideas at the heart of this system. And even though the stark consequences of the 2008 financial crisis are still felt today, these out-dated ideas remain dominant.

We urgently need to reroute society away from this catastrophic path. That starts with fresh economic thinking.

Who are the thinkers and doers finding the economic solutions we need to meet the challenges of the 21st century? Help us find them and celebrate them.

And join the discussion about whether economics, as it stands today, is worthy of a Nobel Prize.

They have put up a list of new ideas which could be in contention for the prize on 3 October 2019.

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Amol Agrawal
I am currently pursuing my PhD in economics. I have work-ex of nearly 10 years with most of those years spent figuring economic research in Mumbai’s financial sector.

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