Despite such provocative and uncomfortable findings, few if any of Mr Levitt's peers will deny he deserves the Clark medal.

ECONOMIST: Economics focus

Three of its members or staff Larry Summers (now Barack Obama's chief economic adviser), Mr Feldstein himself and Paul Krugman have won the Clark medal, a prize for the best American economist under the age of 40.

ECONOMIST: How good is the Council of Economic Advisers?

"It's really awesome, " said Clark when asked how she felt about winning the first gold medal for the United States.

BBC: Clark seals gold for US