First woman wins Nobel Economics Prize

First woman wins Nobel Economics Prize

news.yahoo.com

STOCKHOLM (AFP) – Elinor Ostrom became the first woman to win the Nobel Economics Prize on Monday for research seen as highly topical amid efforts to tackle climate change and in the wake of the economic crisis.

Economist Oliver Williamson, another US national, shared the 10-million-kronor (1.42-million dollar, 980,000-euro) prize with Ostrom, whose name has circulated for years as a possible winner.

Ostrom said it was "a great thrill and a very big surprise" to win the Nobel.

"I think we've already entered a new era and we recognise that women have the capability of doing great

(visit the link for the full news article)

Mod Edit: Review This Link: Instructions for the Breaking News Forums: Copy The Exact Headline

[edit on 10/13/2009 by semperfortis]

Ostrom describes herself as a political scientist instead of an economist and is a professor at Indiana University, where she researches the management of common property or property under common control, such as natural resources. List of previous winners.

Her work -- inspired by her mother's "Victory Garden" during World War II to feed Allied troops -- challenged the notion that common property is poorly managed and should be either regulated by central authorities or privatised, the jury said.

"If we want to halt the degradation of our natural environment and prevent a repetition of the many collapses of natural-resource stocks experienced in the past, we should learn from the successes and failures of common-property regimes," it said.



------------------------------------------------


Now, the reason this is interesting, is because imo, it ties right into Obama winning the Peace Prize.

The fact she's a woman (a minority in politics and science) is used as the justification for her winning, just as Obama being black is.

Plus, she's a global warming researcher, hmmmm... go figure.

news.yahoo.com
(visit the link for the full news article)

Mod Edit: Review This Link: Instructions for the Breaking News Forums: Copy The Exact Headline

[edit on 10/13/2009 by semperfortis]

Per the news yesterday, she advocates management of local resources by locals who are better able to gauge activities surrounding the areas and develop rules over time concerning their use. Rather than being managed at the federal level with little local input and regulations being established in one fell swoop, the local population tends to develop an approach that works best for their community ad the environment.

Good for her!
But let's not forget that the first person *ever* to receive the Nobel Prize (1901) was a woman. Yep: Bertha von Suttner.

Originally posted by elfie
Per the news yesterday, she advocates management of local resources by locals who are better able to gauge activities surrounding the areas and develop rules over time concerning their use. Rather than being managed at the federal level with little local input and regulations being established in one fell swoop, the local population tends to develop an approach that works best for their community ad the environment.

That doesn't sound bad ...

After what happened with the peace prize I was half expecting this award to go to Bernie Madoff.

Originally posted by 4ortunate1
After what happened with the peace prize I was half expecting this award to go to Bernie Madoff.

LMFAO. Star.

reply to post by Donnie Darko


It's about time!

I think this was a good choice.

That said, handing out ANY "prize" in economics in the midst of the worst downturn since the '30s strikes me as uncomfortably akin to conducting the Indy 500 with clown cars. IMHO, the whole field of "economics" as currently construed should be disbanded, and 99% of "academic economists" should be sacked and forced to rake leaves on highway median strips for the rest of their lives.

Perhaps the econ prize recepients were part of the 1% I'd allow to keep their jobs...it certainly must have been a tough task searching for the very few diamonds in a very rough-rough this year.

Personally, I'd give it to Gerald Celante if it were up to me...

[edit on 10/13/09 by silent thunder]