Cover image for Intellectual capital : forty years of the Nobel Prize in economics
Title:
Intellectual capital : forty years of the Nobel Prize in economics
Personal Author:
Publication Information:
New York : Cambridge University Press, 2010
Physical Description:
xiii, 351 p. ; 24 cm.
ISBN:
9780521763264
Abstract:
"There is arguably no award more recognized in the academic and professional worlds than the Nobel Prize. The public pays attention to the prizes in the fields of economics, literature, and peace because their recipients are identified with particular ideas, concepts, or actions that often resonate with or sometimes surprise a global audience. The Nobel Prize in Economic Science established by the Bank of Sweden in 1969 has been granted to 64 individuals. Thomas Karier explores the core ideas of the economic theorists whose work led to their being awarded the Nobel in its first 40 years. He also discusses the assumptions and values that underlie their economic theories, revealing different and controversial features of the content and methods of the discipline. The Nobelists include Keynesians, monetarists, financial economists, behaviorists, historians, statisticians, mathematicians, game theorists, and other innovators. Rich in biographical details, illuminating the modern history of the discipline as a whole, Intellectual Capital allows an audience of lay and professional readers to readily understand the notions that define modern economic science and practice. It pointedly asks, and answers, whether the prizes have been awarded to those economists "who have during the previous year rendered the greatest service to mankind.""--Provided by publisher.

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30000010251642 HD53 K37 2010 Open Access Book Book
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30000010296757 HD53 K37 2010 Open Access Book Book
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Summary

Summary

There is arguably no award more recognized in the academic and professional worlds than the Nobel Prize. The public pays attention to the prizes in the fields of economics, literature, and peace because their recipients are identified with particular ideas, concepts, or actions that often resonate with or sometimes surprise a global audience. The Nobel Prize in Economic Science established by the Bank of Sweden in 1969 has been granted to 64 individuals. Thomas Karier explores the core ideas of the economic theorists whose work led to their being awarded the Nobel in its first forty years. He also discusses the assumptions and values that underlie their economic theories, revealing different and controversial features of the content and methods of the discipline. The Nobelists include Keynesians, monetarists, financial economists, behaviorists, historians, statisticians, mathematicians, game theorists, and other innovators.


Reviews 1

Choice Review

Recent works have provided a new introduction to the economics Nobel laureates (Howard Vane and Chris Mulhearn, The Nobel Memorial Laureates in Economics, CH, Mar'06, 43-4157) and also conversations with some of them (Karen Ilse Horn, Roads to Wisdom, Conversations with Ten Nobel Laureates in Economics, 2009). Karier (Eastern Washington Univ.) covers some of the same ground as Vane and Mulhearn, but his purpose is more ambitious. Ultimately, he wishes to assess whether the Nobel Memorial economics prize accomplishes the same thing for economics that it does for the science prizes originally created by Alfred Nobel. His answer is that it could but often has not. To get to that argument, Karier groups the economics Nobel laureates into schools of thought based on their contributions to the discipline (Chicago, Keynesian, etc.); applied areas (finance, economic history, institutional analysis); or methodological approaches (game theory, econometrics, micro, and philosophy). The 2010 laureates, not included, would add another applied area--labor economics. While one may or may not agree with Karier's ultimate argument, his book is a good general introduction to the state of economics over the past 40 years. Summing Up: Recommended. General readers; all levels of students; researchers and professionals. R. B. Emmett James Madison College, Michigan State University


Table of Contents

Prefacep. ix
Economic Nobel Laureatesp. xi
1 An Economic Prizep. 1
2 Free-Market Economicsp. 14
3 Micro: The Chicago Schoolp. 34
4 Stock Market Casinop. 58
5 More Microp. 73
6 Behavioristsp. 93
7 Keynesiansp. 125
8 Classical Revivalp. 155
9 Inventorsp. 172
1 Game Geeksp. 193
11 General Equilibriump. 221
12 A World Viewp. 236
13 Numbers Guysp. 260
14 History and Institutionsp. 283
15 Reshaping the Prizep. 300
Notesp. 307
Indexp. 347