michael-hudson.com
The 2026 award revives a fifty-year objection: economics keeps rewarding theories that overlook the power of creditors.
I stopped calling myself an economist back in the 1970s when it became obvious that what I was talking about - mainly debt, the balance of payments, monetary imperialism and history - was not what the academic curriculum was all about.
When Paul Samuelson got the Nobel Prize for his unrealistic insistence that free trade made all countries gain and become more equal in their labor/capital ratios, I wrote an article in the Catholic publications Commonweal urging that the prize stopped being given.