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University of Chicago Professor Richard Thaler. Photo: AFP (AFP)
University of Chicago Professor Richard Thaler. Photo: AFP (AFP)

Nobel laureate Richard Thaler takes a jab at Donald Trump’s confidence, knowledge

Richard Thaler expressed surprise that the US stock market is continuing to go up during what he sees as uncertain political times

Washington: Richard H. Thaler, the University of Chicago professor who this week won the Nobel Prize in economics, expressed his views about President Donald Trump in the form of a simple, unflattering number.

“His ratio of certitude to knowledge is nearing record highs," Thaler said on Bloomberg Radio with Tom Keene and David Gura. “We all need a lot of humility, and especially about the economy."

Thaler also expressed surprise that the stock market is returning good performance with few disruptions during what he sees as uncertain political times. Congress is grappling with a tax reform proposal, but infighting among Republicans has called into question whether a package will ultimately pass.

“Who would have thunk that the stock market would just continue to go up" during “what has to be the most uncertain times of my lifetime," Thaler said. “Surely it can’t be based on the certitude that there will be a massive tax cut, given the seeming inability of the Republican Congress to get their act together. So I don’t know where it’s coming from." Bloomberg

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