That means any cheering for the winner of the Nobel prize in economics when it is announced on Monday might be muted. Will the prize awarding committee decide that the equilibrium models it has rewarded for so many years are broken and choose from outside the mainstream? He is also an economics professor at MIT. In recent years Romer has come to criticise the mainstream economic establishment, arguing against the fashion for mathematical equations in econometrics, which dominates university teaching, preferring economics that takes human behaviour into account. A very embarrassed official quickly took down the release and the Nobel committee said a decision had yet to be made.

Source: The Guardian October 07, 2016 14:15 UTC