3 economists win Nobel Prize in economic sciences for work on banks, financial crises – NPR

by | Oct 10, 2022 | Financial

The Nobel panel at the Royal Swedish Academy of Sciences in Stockholm has announced the winners for the Nobel Memorial Prize in Economic Sciences are Ben Bernanke, Douglas Diamond and Philip Dybvig.

STEVE INSKEEP, HOST:
Three Americans have been awarded the Nobel Prize in Economics for their work on bank runs and protecting the financial system. Ben Bernanke shares the prize with two academic economists, Douglas Diamond and Philip Dybvig. NPR’s Scott Horsley joins us now with the details. Scott, good morning.
SCOTT HORSLEY, BYLINE: Good to be with you, Steve.
INSKEEP: And so sorry that you did not win the Nobel Prize in economics once again, but your year may come. Anyway, it always seemed fortuitous that Ben Bernanke was the head of the Fed during the financial crisis because of his particular background.
HORSLEY: Yeah. His background was really as a historian of the Great Depression. He documented how the collapse of the financial system in the 1930s turned what might have been an ordinary recession into something much worse and longer lasting. Bernanke then put those lessons to work when he was Fed chairman. During the financial crisis, he p …

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