<What is the possibility of Korean Nobel Prize in Economics?>

<What is the possibility of Korean Nobel Prize in Economics?>

I thought about the possibility of a Korean Nobel Prize in Economics in the heyday of Koreans when Han Kang won the Nobel Prize and director Bong Joon-ho won the Oscar. The bottom line is that the probability is close to 0% in 20-30 years.

If you look at those who have received the Nobel Prize in Economics since 2000, the vast majority are professors from the top seven universities in the United States (Harvard, MIT, Chicago, Princeton, Yale, Berkeley, and Northwestern). The exceptions are those who have served as assistant/adjunctors at those seven universities and were scouted on good terms from other universities. Looking at it briefly, there are only 1-2 exceptions out of the last 29 winners.

Economics Professors In the world, market principles work as they wish. Professors can move freely depending on their research achievements. Those seven universities have overwhelmingly high salaries as professors in economics, and the research environment is excellent, so if there is an offer here, I usually move on. That's why the Nobel Prize eventually comes out.

For example, behavioral economics father Richard H. Thaler (Richard Sailor) spent a long time at Cornell University after receiving a doctorate from the lower-ranked University of Rochester. His writings during Cornell University shook the world of academia, eventually moving to the University of Chicago. He eventually won the Nobel Prize there.

Unfortunately, none of the top seven Korean professors are in the economics department. Robin Lee, David Lee, Nathan Nunn, and others are Korean-Americans. They are not at the level of receiving a Nobel Prize either. The closest people to being born in Korea will be Choi Jae-hak and Lee Seok-bae, professors at Columbia University, who are so good at winning a Nobel Prize (in Choi's case, an advisor in the same field won the Nobel Prize in 2020). And currently, none of the assistant professors or associate professors are showing achievements that can be transferred to that university. To do that, I would have to publish a Top 5 Journal at least every two years (as far as I know), but there is no such person. (Professor Yeom Min-chul is doing well as Minchul Yum! Fighting)

In the end, the conclusion is that a Korean Nobel Prize in economics can only come out if a Korean who is currently in a doctoral course or who will go on to study is granted. It will take at least 20-30 years. The problem is that Korean culture and education are far from creative and critical thinking. It is the opposite of how people who achieve great achievements grow academically. So at this rate, the "Han River" in economics seems unlikely to be born. Frankly, I think it will be difficult even 30-40 years from now. However, I hope that something like a miracle will break my expectations, and a person like Shohei Ohtani in economics will make a salty appearance.