where are Great NOBELIAN's

WHERE ARE NOBELIAN’S
-NILESH MANDOLE (MMCOE-MBA), PUNE
World is suffering from the worse recession now days & this worse can be the worst, if situation is not been controlled. The American economy is backbone of many developed, developing and underdeveloped economies. The effect of Lehman brother, Merrill lynch is the major oil for recession burnt. These kinds of effects can be avoided and could have been avoided by America itself, because this single country have honored with 43 economic Nobel prizes. Getting noble prize feather in cap is not easy thing, and if the thing comes to economy it gets tougher. If these kinds of personalities are in working in the nation of these institutions and still organization is going in bankruptcy, it is amazing thing. It is question that, didn’t those people little bit aware about the future failure of those bankrupt institutions? whether they were aware about the problems of mortgage backed securities and problems of subprime crises?. Noble prize is given commonly to a person from all over the world if a person could not used his experience and knowledge to avoid the crises then it will the suffer for not only to that country which the crises belong to but for all the world.
Noble prize should be given economists who made the estimations and finding the ways for saving the nation or world from crises.It is also necessary to eatablish theories or to find out various policies in econimics but preference must be given to real life problem solvers. Rather than to criticizing another economist for any reason, if these Nobelian’s used their knowledge for real life use then it will be the real fruit for world. If we see Nobel prize winner scientist e.g. R. K. Pachuri who is using his knowledge for creating awareness about global warming , if these economist had used their experience and knowledge in real manner America could have been avoided the problem of $700bn bail out and $603bn bankruptcy of those institutions. It is debatable issue that, if the Indian economy can be saved with minor changes of RBI then why doesn’t US Federal Reserve. It is true that American economy is of $15trn (India $1 trn) and to controlling that much big economy is not the easy thing but, if they are claiming to having good economist and the persons like Warren Buffet in their country, it’s not that much difficult. It is always better to prescribed than to cure, and doctor having good prescription is always better than who cures. We can see that America is doing all possible acts for come out of recession but what about the things lost in recession. It is possibility that by showing a track to rescue from this problem another economist can be nominated for next Nobel Prize.
Still the issues like using credit cards for large credit in USA or rest of the world can be the next oil for this burning issue of recession and USA banks can find themselves in difficulty.It is require to establish the tough rules regarding the collateral securities for lending and find sound earning position for issue credit cards.