In the podcast episode of “The Marginal Revolution” aired on October 8, 2024, renowned economists Tyler Cowen and Alex Tabarrok engaged in a lively discussion about the potential candidates for the upcoming Nobel Prize in Economics.

https://www.youtube.com/watch?v=A2FZvEQmADc

In addition to familiar figures in the field of economics, such as Michael Woodford with his work on monetary theory, Susan Athey with her contributions to machine learning, and Ariel Pakes in industrial organization, the two experts made a bold prediction: Vitalik Buterin, the founder of Ethereum, could be a strong contender for this prestigious award.

Tyler Cowen lavishly praised Buterin’s significant contributions to the field of monetary economics, particularly in the realm of cryptocurrency. He emphasized that Buterin’s achievements surpass those of any other economist in this area.

“Vitalik didn’t just create a platform; he created a new currency. In many ways, he has challenged Mises’ regression theorem, following the extraordinary success of Satoshi Nakamoto. It’s hard to imagine anyone doing more to deserve a Nobel Prize,” Cowen remarked.

Both economists lauded Buterin’s extraordinary effort in transitioning Ethereum from a Proof-of-Work (PoW) mechanism to Proof-of-Stake (PoS) through the September 2022 Merge, without causing any network disruption.

Tabbarok quipped: “Have you ever seen those videos from Saudi Arabia where people change a car tire while it’s still moving? That’s exactly what Ethereum did. It’s truly phenomenal!”

Beyond his technical expertise, Cowen also praised Buterin’s personal qualities, describing him as “very polite” and saying he would be “an excellent candidate at the award ceremony.” Cowen further acknowledged Buterin’s substantial philanthropic efforts, amounting to millions of dollars.

Notably, in 2018, the University of Basel awarded Buterin an honorary doctorate in recognition of his immense contributions to the development of blockchain technology.

The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, commonly known as the Nobel Prize in Economics, is scheduled to be announced on October 14. Regardless of the outcome, the mention of Vitalik Buterin as a potential candidate reflects the growing influence of blockchain technology and cryptocurrency on the modern economy.