Critics sometimes ask what practical good economic theory has done. The Nobel Prize in Economic Sciences awarded to Ben Bernanke along with Douglas Diamond and Philip Dybvig provides a rejoinder.
The Nobel Prize in Economic Sciences
awarded to Ben Bernanke on Monday along with Douglas Diamond of the University of Chicago and Philip Dybvig of Washington University in St. Louis provides a rejoinder. The laureates independently developed the theoretical foundations for why banks exist and why bank panics hurt. Mr.
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