In naming seven recipients of its coveted prizes last week, the Nobel Committee remained faithful to tradition. The judges honored the 13th American in 17 years with the economics award. As usual, U.S. researchers dominated the sciences. In literature, the gold medal went to a French experimental writer, whose murky novels are no longer in vogue. The winners and their credentials:
The theory seems at first to be blatantly obvious. It holds that people tend to save when they are young to create a nest egg for their old age. Basic though it may be, that notion ranks among the most...
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