David Gross, whom I don't have to introduce, explained that
- "Making money is perhaps fun ... but it's nothing compared with exploring nature."
- "It would be an unmitigated disaster."
On the other hand, if every single human were able - and lucky enough - to contribute to the humankind as much as David Gross, the usual very-low-energy effective rules of economy, as Prescott knows them, would certainly break down. ;-)
This is a good point to say something related to Gross's statement - which may also be a news for many of our colleagues in economics:
- The economists like Prescott may be intelligent ... but it's nothing compared to the scientists like Gross.
Even though I think that Prescott is a very reasonable and well-educated economist with good convictions based on common sense, I would expect a little bit more respect from Mr. Prescott to the people who are undoubtedly smarter than he is. ;-)
Well, these exchanges are just fun, of course. At the end, the Nobel prize winners agree about more or less everything. For example, they agree that the calls to boycott Israeli scientists are misled and contradict the principles necessary for progress in science.
A previous article on my blog about the background of the 2004 Nobel prize winners is here.