The marriage between Nobel economics and social democracy

Avner Offer is co-author (with Gabriel Söderberg) of The Nobel Factor: The Prize in Economics, Social Democracy, and the Market Turn (Princeton University Press, 2016) and writes about the Nobel prize in an article published in a number of papers: "Many economists have responded to the failure of their discipline’s core premises by retreating into empirical investigation. But the resulting validity comes at the cost of generality: randomized controlled trials in the form of local experiments cannot replace an overarching vision of the social good. A good way to begin acknowledging this would be to select Nobel Prize recipients accordingly."