Jäger rt's Mona Ali

How many of you well-versed in the Lucas paradox knew this? Man, the stars were aligned for his ex.

Six years before Professor Lucas won his Nobel, his estranged wife expressed great faith in his future. Her lawyer inserted a clause in their divorce agreement stipulating that she would receive half of any Nobel money he might receive if the honor was awarded before Oct. 31, 1995. He received the prize barely three weeks before that deadline.

A screen-grab. the source.

The Lucas 'paradox' doesn't exist. Wall Street invests in the American South and Louisiana isn't rich. European empires built infrastructure because it was necessary to extract wealth. Lucas married a native, a servant, a subaltern—an American college girl, in 1959—and she used his laws against him. Investment is extractive; it's as cheap as it needs to be. But people being social animals things get messy.

"Man, the stars were aligned...." Economics is shallow, but sexism runs deep.

In an agenda with conservative implications for economic policy, Professor Lucas maintained that government spending that supplants private investment is counterproductive; that the money supply is what matters most; and that policies to reduce inequality by redistributing income, though “seductive,” are “in my opinion the most poisonous” to sound economics.

He also favored eliminating taxes on capital gains, or on any income derived from capital. And he embraced supply-side economics, which calls for increasing the supply of goods and services while cutting taxes to promote job creation, business expansion and entrepreneurial activity.

“The supply-side economists,” he said in a 1993 interview, “have delivered the largest genuinely free lunch that I have seen in 25 years of this business, and I believe we would be a better society if we followed their advice.”

What an ass.