The Nobel Memorial Laureates in Economics
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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.
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Howard R. Vane and Chris Mulhearn


THE 1974 NOBEL MEMORIAL LAUREATES GUNNAR MYRDAL AND FRIEDRICH VON HAYEK GUNNAR MYRDAL Gunnar Myrdal (1898–1987) © The Nobel Foundation Gunnar Myrdal was born in a rural farming community in central Sweden in 1898. He studied law at the University of Stockholm and was awarded his degree in 1923. Switching from law to economics he obtained a doctorate in economics from the University of Stockholm in 1927. After a year spent studying in the United States as a Rockefeller Foundation Scholar, Myrdal embarked on careers in politics and academia. In the former case he became an adviser to the new Social Democrat government of Sweden in 1932, served as a member of the Swedish Parliament on two occasions: from 1934 to 1936 and 1942 to 1946; he was also chairman of the Swedish PostWar Planning Commission and Minister for Trade and Commerce from 1945 to 1947. As an academic at the University of Stockholm, Myrdal held the Lars Hierta Chair in Political Economy from 1933 to 1939, and was Professor of International Economics from 1961 until he retired from the university in 1965, thereafter holding the title of Professor Emeritus until his death in 1987. While Professor of International Economics he founded the Institute of International Economic Research in Stockholm to undertake work on trade and development. Myrdal also served as Executive Secretary of the United Nations Economic Commission for Europe in Geneva between 1947 and 1957. 64 GUNNAR MYRDAL Myrdal’s many offices and honours included the award of...

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