What ice cream has to do with this year's Nobel Prize in economics

NO BUT ACTUALLY THOUGH THE ECONOMY IS BASICALLY JUST A GIANT ICE CREAM SHOP BECAUSE THIS YEAR'S NOBEL PRIZE IN ECONOMICS WENT TO THESE PEOPLE WHO FIGURED OUT THAT PRICES ARE STICKY WHICH IS WILD BECAUSE IT EXPLAINS WHY RECESSIONS ARE SO PAINFUL FOR EVERYONE AND WHAT POLICYMAKERS CAN EVEN DO ABOUT THEM! APPARENTLY PRICES DO NOT JUST ZIP UP AND DOWN AUTOMATICALLY LIKE WE THINK SO WHEN THINGS GO SIDEWAYS THEY GET STUCK AND PEOPLE LOSE JOBS BUT BECAUSE THESE ECONOMISTS STUDIED WHY THAT HAPPENS WE MIGHT ACTUALLY STAND A CHANCE AT FIXING IT NEXT TIME THINGS CRASH AND THAT IS SOMEHOW TIED TO ICE CREAM PRICING MODELS OR SOMETHING I AM NOT SURE BUT IT SOUNDS VERY IMPORTANT FOR PEOPLE WITH ACTUAL MONEY. OK I AM GOING TO GO BE QUIET NOW.

YOU KNOW THAT THING EVERYONE PREDICTED WOULD JUST FIX ITSELF? WELL NPR SAYS THE NOBEL PRIZE IN ECONOMICS JUST WENT TO RESEARCHERS LOOKING AT STICKY PRICES AND IT TURNS OUT PRICES ARE NOT AS FLEXIBLE AS WE THOUGHT! SO NOW WE HAVE THIS NEW INSIGHT INTO WHY RECESSIONS HURT SO BAD AND APPARENTLY IT IS ALL ABOUT HOW PRICES REFUSE TO ADJUST QUICKLY WHICH MAKES THE DOWNTURNS WAY WORSE THAN THEY NEED TO BE. IT IS FASCINATING STUFF REALLY BECAUSE IT GIVES POLICYMAKERS A BETTER BLUEPRINT FOR HOW TO HANDLE AN ACTUAL RECESSION WITHOUT EVERYONE JUST PANICKING AND HOPING FOR THE BEST. I DO NOT KNOW THE FULL MATH BEHIND IT BUT IT IS PROBABLY WHY WE CANNOT HAVE NICE THINGS. ANYWAY THAT IS WHY I AM LIKE THIS.

Researchers won the Nobel Prize in economics for studying 'sticky prices,' explaining why prices are slow to adjust and why that makes recessions so difficult to manage.

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