Table of Contents

The Nobel Memorial Laureates in Economics

The Nobel Memorial Laureates in Economics

An Introduction to Their Careers and Main Published Works

Howard R. Vane and Chris Mulhearn

Erudite, accessible and lucidly written, this book provides a stimulating introduction to the careers and main published works of the Nobel Memorial Laureates in Economics. It will prove to be an invaluable reference book on key figures in economics and their path-breaking insights. The vignettes should also encourage the reader to sample some of the Laureates’ original works and gain a better understanding of the context in which new ideas were first put forward.

Preface

Howard R. Vane and Chris Mulhearn

Subjects: economics and finance, economic psychology, history of economic thought

Extract

Today, students who graduate with a degree in economics do so with a thorough grounding in theory, methods of economic investigation and policy application. Sadly, at least in our experience, an ever-increasing number have little awareness of when many of the key ideas and building blocks which underlie their studies were first put forward and subsequently developed. This situation in part reflects the widespread disappearance of history of economic thought courses from both undergraduate and postgraduate degree programmes. Among other explanatory factors is the seemingly more instrumental approach taken by many students who are reluctant to engage in wider reading and instead focus their efforts on a limited number of set textbooks in order to pass their exams and gain a passport to higher earnings. As long-standing teachers of the discipline, this state of affairs is one that we have reluctantly come to acknowledge. Recognition of a situation, however, does not entail acquiescence. The main aim of this book is to provide an introduction to the careers and main published works of the Nobel Memorial Laureates in Economics for undergraduate and postgraduate students. In doing so, we hope to give students a better understanding of some of the key figures and their major insights which have helped mould the present state of economics. The vignettes may also encourage the reader to sample some of the Laureates’ original works and thereby gain a better understanding of the context in which their ideas were first put forward. As Mark Blaug, who...