QUOTE “…now the economists win the Nobel for explaining to their fellow econom

http://organizationsandmarkets.com/2015/10/12/angus-deaton-and-modern-economics/QUOTABLE QUOTE

“…now the economists win the Nobel for explaining to their fellow economists something that the general public has always known, e.g.:

1 – Politicians care about themselves (Buchanan).

2 – Don’t put all your eggs in one basket (Markowitz, Miller,and Sharpe).

3 – You can’t fool all of the people all of the time (Lucas).

4 – Some people know more than others (Akerlof, Spence, Stiglitz).”

(h/t Paul Vahur )