[inefficient]

The Nobel committee would disagree: http://www.nobelprize.org/nobel_prizes/

Things change. For all intents and purposes, this is a nobel prize in economics, given that the winners are referred to as Nobel laureates by the Nobel committee.

If anything, I think we put a bit too much weight in these awards in general which leads to silly articles like this one.

This shouldn't necessarily be taken as support for the economic research selected for prizes as much as a response to attacking the prize on the basis of it being in economics.

[mtw]

It would make more sense to have a Nobel prize in mathematics than in economic science.