Pigs and Power

Many decades ago, George Orwell wrote a book called Animal Farm. It used a farm as a metaphor for society and depicted the transformation of a productive enterprise into a totalitarian regime. The progress toward dictatorship took small steps that were held to be in the best interests of “the people.” Equality of conditions . . . → Read More: Pigs and Power

Nobel Prize In Economics 2009

This year’s Nobel prize in economics goes to Elinor Ostrom and Oliver E. Williamson (link). Elinor Ostrom received the prize for her analysis of economic governance, especially the commons while Oliver E. Williamson received the prize for his contributions to the economic governance, emphasizing the boundaries of the firm and its role in conflict . . . → Read More: Nobel Prize In Economics 2009

2009 Economics Nobel Prize

We’ll soon get the announcement. Here are a few possibilities, computed by Thomson/Reuters, using citation analysis.

If I had to vote, it would be a Taylor/Woodford prize.  For a sense of this work, see: link, link. While inflation targeting was invented in New Zealand based on the intuition of cleanliness in public administration, Taylor . . . → Read More: 2009 Economics Nobel Prize

Paul Krugman: ‘Nobel’ Laureate?

On October 13, it was announced that controversial New York Times columnist Paul Krugman had been awarded the “Nobel” prize in economics. Yes, “Nobel” appears in quotes for a reason. That’s because, unlike the other Nobel prizes which were established by inventor and philanthropist Alfred Nobel, the “Nobel” prize in economics was established (and . . . → Read More: Paul Krugman: ‘Nobel’ Laureate?