📣 Vitalik Buterin as a Candidate for the Nobel Prize in Economics?
posted 9 Oct 2024
Economist Tyler Cowen has put forward Ethereum’s founder, Vitalik Buterin, as a potential candidate for the Nobel Prize in Economics. Cowen made this statement during a podcast discussion with his colleague Alex Tabarrok on YouTube on October 8.
In their discussion, Cowen and Tabarrok reviewed possible Nobel contenders ahead of the October 14th prize announcement.
They debated potential winners like Michael Woodford for monetary theory, Susan Athey for advances in machine learning, and Ariel Pakes for industrial economics.
Buterin stood out as a notable, though often overlooked, candidate. Cowen praised Buterin's unique contributions to monetary economics through the blockchain space.
What sets Buterin apart, according to Cowen, is his groundbreaking work in the crypto space, particularly in monetary economics. So, why does Cowen believe Buterin deserves the Nobel?
Cowen pointed out that Ethereum, like Bitcoin, refuted Ludwig von Mises' regression theorem, which posits that money gains value through its prior function as a tradeable commodity. Satoshi Nakamoto had previously achieved this, but due to anonymity, can't be awarded the prize.
Moreover, Cowen emphasized the impressive, live transition of Ethereum’s consensus mechanism from Proof-of-Work to Proof-of-Stake, likening it to changing the tires of a car while driving.
Want to know more about Satoshi Nakamoto? HBO’s latest documentary explores the mystery behind Bitcoin’s creator. Read about it in our special feature.
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