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 1991 NOBEL MEMORIAL LAUREATE RONALD COASE RONALD COASE Ronald H. Coase (b. 1910) © The Nobel Foundation Ronald Coase was born in Willesden, London, UK in 1910. He went to school in London and won a place at a high (secondary) school which, at that time, allowed pupils after they had completed their secondary education to study as external students of the University of London for a year. Coase reports that this prompted the first of a number of fortunate incidents that shaped his career as an economist (Nobel Foundation, 2004). His initial intention was to take a degree in history but a late start at high school meant that he had not taken the required prior course in Latin. As an alternative Coase chose chemistry – a subject in which he had demonstrated some earlier promise – but he found the associated mathematics ‘not to my taste’. This left him with only one option: commerce. He passed his first year’s work and enrolled at the London School of Economics (LSE) (part of the University of London) to continue as an undergraduate on a bachelor of commerce degree. He was awarded a BCom by the University of London in 1932. In 1951 he was awarded a PhD in economics by the same institution. Coase’s first academic appointment was as an assistant lecturer at the Dundee School of Economics and Commerce in 1932. In 1934 he was appointed as assistant lecturer at the University of Liverpool and in 1935 he returned to the...

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