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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.


Howard R. Vane and Chris Mulhearn

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


THE 1969 NOBEL MEMORIAL LAUREATES RAGNAR FRISCH AND JAN TINBERGEN RAGNAR FRISCH Ragnar A.K. Frisch (1895–1973) © The Nobel Foundation Ragnar Frisch was born in Oslo, Norway in 1895. Concurrent with an apprenticeship as a goldsmith, he studied economics at the University of Oslo and obtained a BA in 1919. In the early 1920s Frisch undertook studies in France and Great Britain, and after completing his dissertation in mathematical statistics was awarded a doctorate from the University of Oslo in 1926. In receipt of a Rockefeller Foundation Fellowship (1926–28) he travelled in the United States before becoming a lecturer at the University of Oslo (1928–29). He subsequently returned to America as a visiting professor at Yale University from 1930 to 1931. In 1931 Frisch was appointed to the Chair of Economics at the University of Oslo and in 1932 became director of the newly created Institute for Social Economy at the university, posts he held until his retirement in 1965. During the 1930s, and the early postwar period, he was an adviser to the Norwegian Labour Party, and also periodically acted as an adviser to the governments of a number of developing countries, including India (1954–55) and Egypt (1957– 64). In 1969 he was awarded, jointly with the Dutch economist Jan Tinbergen, the first Nobel Memorial Prize in Economics ‘for having developed and applied dynamic models for the analysis of economic processes’ (Nobel Foundation, 2004). 26 RAGNAR FRISCH Ragnar Frisch is best known for his important contributions...

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