There was a time when Nobel Prize for Economics was monopolized by those academicians who were able to push the frontiers of macro-economics. Step motherly treatment to micro-economists, made the upcoming learners of the discipline to believe that rewards are proportional to the universality of their theories. Clearly, deductive research was the toast among the academicians during the large part of 20th century. But clearly times are changing as per Noah Smith in An Economics Nobel for Examining Reality as Micro-economics, supplemented by easy availability of data and better use of technology in analytics is surging ahead of macro-economics in terms of their improved share of Nobel prizes ever since 2005. So, it is safe to assume that ground breaking theories in the area of micro-economics will no longer remain to be harmless and unheeded salmons, but become the big white tiger sharks of economics world. It is carving out a unique space where smaller is better.


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