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An anecdote after Sargent’s Nobel
Posted by Aditya Kuvalekar on November 10, 2011
This is too late to write about this lovely development. Thomas Sargent from NYU got the Nobel prize this year. I am not a macroeconomics guy. Neither am I an “economics and policy blogger”. So I have no qualms in declaring that I am absolutely incapable of writing about his work. This might be a good resource to read a bit of serious stuff about his work.
The purpose of this post is to narrate a sweet incident I witnessed a few days after he won the Nobel. I attended a Champagne session to celebrate this achievement where one of his students (unfortunately I don’t know her name) gave a small little talk about his work.
Apparently, Sargent was asked a few months ago about a question on Financial Crisis and some policy action to be taken. Sargent answered, “That is a question to be resolved by the model and the data”
When a Nobel laureate is that humble in admitting that economics is far harder than what may seem and most questions don’t have “obvious” answers as many bloggers and journalists think, maybe there’s some food for thought for those who think before they speak. For many Indian policy bloggers/journalists of course, these rules of humility do not apply.
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[...] friend Aditya Kuvalekar recalls an anecdote of Thomas Sargent (Nobel laureate in [...]