The New York Times reports (Click here for the article) that "in August, Senator Richard C. Shelby, Republican of Alabama, asserted that Professor Diamond did not have enough experience for the position, saying, “I do not believe that the current environment of uncertainty would benefit from policy decisions made by board members who are learning on the job.” "
The Nobel Committee writes “The Laureates’ models help us understand the ways in which unemployment, job vacancies, and wages are affected by regulation and economic policy,”
The Nobel Prize in Economics was announced earlier this morning and was awarded to 3 individuals, including Dr. Diamond from MIT.
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