Tag Archives: Nobel Prize

from Steven Klees I am quite sure that this year’s three Nobel Laureates in economics — Daron Acemoglu, Simon Johnson and James Robinson – are very competent new institutionalist economists.  Lars Syll offers a thoughtful critique of their substantive arguments, but he misses the main point for me.  New institutional economics, by and large, is nonsense.  We used to have many sensible institutional economists who offered a qualitative, sociological-type analysis of the role of economic...

Tom Schelling Is Rolling Over In His Grave, Econospeak By Barkley Rosser  Thomas Schelling got his Nobel Prize in economics for saving the world from global thermonuclear war in the 20th century, when many thought it was inevitable. Rival nuclear game theorist, John von Neumann, said to bomb the Soviets as soon as possible, like, tomorrow, preferably before noon  Schelling won the debate in real time, being an advisor on “Dr. Strangelove…”...

"But that one is holding the poop!"Adam Tooze, the author of the monumental Crashed (who was, incidentally,  student of Wynne Godley, one of my mentors), wrote a piece for the London Review of Books that has received a lot of praise. While it reviews Paul Krugman's latest book, it provides an overview of the radicalization of New Keynesians, or at least some, that dominate both in academia, and in the corridors or power. The gatekeepers of knowledge and academic  and intellectual influence,...

Guest post by Jeff Mosenkis of Innovations for Poverty Action. There’s a new evaluation out of the Northern Ghana site of the famous expensive Millennium Villages project most associated with Jeff Sachs. I’m not an expert, but as I understand it, the theory is that an intensive big fix (building new institutions like hospitals and many other things at once) could fix the interdependent problems of poor areas.The thing is that Sachs insisted he knew it would work, and it didn’t need an...

[unable to retrieve full-text content]The Econ Nobel Announcement, AKA I FINALLY CALLED IT FOR ONCE…: It’s the one day where everyone is talking about what I teach- just let me have this, ok? =P

I've been reading The Nobel Factor: The Prize in Economics, Social Democracy, and the Market Turn by Avner Offer, Gabriel Söderberg, an interesting critique of the use of the Nobel Prize to undermine the Welfare State, essentially by conservative groups in Sweden, that were influential within the Central Bank (Riksbank), that disliked the Social Democratic policies in place in the 1960s. I have been critical of the Riksbank prize before (see, for example, here or here; check also Lars...

For his work on "consumption, poverty and welfare" according to the press release. It wasn't Atkinson, for inequality, as I suggested it was possible, but given the other possibilities cited this is quite good. Deaton had received last year the Leontief prize, which usually goes to heterodox economists (the other Nobel to win the Leontief was Sen), together with Jamie Galbraith.I should say, I recently read his The Great Escape. An interesting book, full of relevant data. But it does...

Prize will be awarded soon (next Monday). Thomson-Reuters prediction, based on citations, below. ECONOMIC SCIENCES Sir Richard Blundell, CBE FBA Ricardo Professor of Economics, Department of Economics, University College London and Research Director at Institute for Fiscal Studies, London UK For microeconometric research on labor markets and consumer behavior John A. List Homer J. Livingston Professor of Economics, University of Chicago, Chicago, IL USA For advancing field experiments in...