Intellectual Capital: Forty Years of the Nobel Prize in Economics

Intellectual Capital: Forty Years of the Nobel Prize in Economics

by Tom Karier


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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."

Product Details

ISBN-13: 9781107507296
Publisher: Cambridge University Press
Publication date: 03/05/2015
Edition description: Reprint
Pages: 366
Sales rank: 958,979
Product dimensions: 5.98(w) x 9.02(h) x 0.83(d)

About the Author

Thomas Karier is a Professor of Economics and a former associate dean at Eastern Washington University, Cheney, Washington, where he began teaching in 1981. He is also a research associate of the Jerome Levy Economics Institute at Bard College, New York. Professor Karier is the author of numerous scholarly and professional publications and two books: Beyond Competition (1993) and Great Experiments in American Economic Policy (1997). The topics of his research have ranged from wage policies, international competition, research and development expenditures, and welfare reform to the economic contributions of John Kenneth Galbraith. Professor Karier has conducted policy analysis for the Economic Policy Institute in Washington, DC, and the Washington State Institute for Public Policy in Olympia, Washington. Thomas Karier was appointed by the past two governors of Washington to represent the state on the Northwest Power and Conservation Council, which coordinates electric power planning and fish and wildlife recovery in the northwestern United States. He has written on energy and natural resource economics for the leading Washington state newspapers and commented on these subjects in the national media. Professor Karier received his Ph.D. from the University of California, Berkeley in 1985.

Table of Contents

1. An economic prize; 2. Free market economics; 3. Micro: Chicago school; 4. Stock market casino; 5. More micro; 6. A moral hazard; 7. Keynesians; 8. Classical revival; 9. The inventors; 10. Game geeks; 11. General equilibrium; 12. A world view; 13. Numbers guys; 14. History and institutions; 15. Reshaping the prize.

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