Greetings everybody! In this video 
we will see about some interesting economics facts
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Amazon comapny's owner Jeff Bezos
is the world's most richest person, as we all know 
he superseded Bill Gates to grab the first position
He is soo  rich that 
if you calculate his income per second
it will amount to 1,85,541 Rs
his income per second is more than our income per month 
In the year 1988, Economist Robert Lucas Jr
and his wife Rita Lucas agreed for a divorce
In the divorce agreement , Rita Lucas added statement
according to which
if Lucas wins a Nobel prize before October 1995
he will have to give half of his prize money 
Since, Robert Lucas was not hopeful of winning it 
He agreed to it
But, just like Rita wished 
20 days before the expiry of the agreement
he was awarded Nobel Prize for his theory of Rational Expectations.
Robert Lucas honored this agreement as a gentleman 
and gave half of his prize money to his wife
Dear girls, before checking your would-be's assets and job
check if he has the capacity to win Nobel prize (might get 1 million dollars)
Generally, if your article is published 
the article will have your name beneath it 
the same rule applies for everyone including editors
but 
the Economist magazine follows a shocking tradition 
where they don't publish author's name for any article
The Economist magazine once clarified this issue stating that
they intend to promote true journalism
and publishing the authors' name 
might invite problems for them 
Those who don't like their ideas might threaten the authors
therefore, we will never publish the authors' name 
Writing a research paper is not an easy task 
But 
In Economics the most funniest research paper is 
"Japan's Philips Curve Looks like Japan"
written by Gregor W. Smith
This paper has nothing but 
Japan's map and its Philips curve
whats more shocking is that 11 other authors have cited this paper 
wondering how good those papers are
we all have heard about Nobel Prize in Economics
but actually, there is no such thing as Nobel Prize in Economics
The real Nobel Prize
i.e. the one given in memory of Alfred Nobel
is awarded for 
Physics, Chemistry, physiology, medicine, literature and peace
The real Nobel Prize is awarded only for these subjects
In 1968, Swedish central bank ; Sveriges Riksbank
whatever
This bank came forward and insisted on Nobel prize for Economics
Therefore, its not the actual Nobel Prize 
its called "Sveriges Riksbank prize in social scienses in memory of Alfred Nobel
So, this is the prize we mean, when we say Nobel prize in Economics
