Laureates Eugene Fama (left), Lars Peter Hansen (centre) and Robert Shiller could teach Congress a thing or two. Photos: EPA, AFP, AP

Lessons for US politicians in Nobel winners' efficient markets theories

Congressmen would do well to study Nobel trio's work on efficient markets and grasp how their own actions make them inefficient

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Laureates Eugene Fama (left), Lars Peter Hansen (centre) and Robert Shiller could teach Congress a thing or two. Photos: EPA, AFP, AP
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Tom Yam

Tom Yam

Tom Yam is a Hong Kong-based management consultant with a doctorate in electrical engineering and an MBA from the Wharton School, University of Pennsylvania. He has worked at AT&T, Ernst & Young and IBM. He is also a member of the Citizens Task Force on Land Resources, a group of professionals dedicated to broadening and facilitating the debate on critical issues including sustainable development, the optimal uses of land, and the conservation of resources.