Outsider may be rolling his eyes at the Good Doctor K. for his succumbing to Nobelists' Syndrome - the notion that receiving expert recognition in one field suddenly confers on you expert insights into *all* fields.  :-/  (It is certainly not a failing peculiar to the Good Doctor K., by any means.)

The problem in Dr. K.'s case is that economics is a social science, and not one like chemistry or physics that deals with immutable natural laws.  His award is more akin to the Nobel prize in literature --- and those are handed out to people who produce great works of fiction.  :-/