Lives of the Laureates: Twenty-Three Nobel Economists / Edition 5

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Lives of the Laureates offers readers an informal history of modern economic thought as told through autobiographical essays by twenty-three winners of the Nobel Prize in Economics. The essays not only provide unique insights into major economic ideas of our time but also shed light on the processes of intellectual discovery and creativity. This fifth edition adds five recent Nobel laureates to its list of contributors: Vernon L. Smith (2002), Clive W. J. Granger (2003), Edward C.

Prescott (2004), Thomas C. Schelling (2005) and Edmund S. Phelps (2006). Also included is the editors' revised afterword, "Lessons from the Laureates." Lives of the Laureates grows out of a continuing lecture series at Trinity University in San Antonio, which invites Nobelists fromAmerican universities to describe their evolution as economists in personal as well as technical terms. Each laureate achieves the goal of clarity without sacrificing inherently difficult content: Kenneth Arrow makes grasping the essentials of his "impossibility theorem" painless;Lawrence Klein clearly presents what goes into econometric "model building"; GeorgeStigler masterfully describes his "information theory"; and so on. These lectures demonstrate the richness and diversity of contemporary economic thought. The reader will find that paths cross in unexpected ways—that disparate thinkers were often influenced by the same teachers—and that luck as well as hard work plays a role in the process of scientific discovery.

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What People Are Saying

From the Publisher
"The first edition of Lives of the Laureates had a spare quality: like an empty stage lit by a single light bulb. The fifth edition is more like a lush picnic. All kinds of people are here, having a good time. They are somewhat unbuttoned, talking about their lives' stories as they might to a friend. They have in common their vigor, their ultimate success,and their love of economics. But mostly they are various, a regular gallery of types. Scientific autobiography has come late to economics, but William Breit, Barry Hirsch, and Trinity University have shown how instructive and downright entertaining it can be." David Warsh ,
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Product Details

  • ISBN-13: 9780262012768
  • Publisher: MIT Press
  • Publication date: 2/6/2009
  • Edition description: fifth edition
  • Edition number: 5
  • Pages: 480
  • Sales rank: 1,453,423
  • Product dimensions: 6.30 (w) x 9.00 (h) x 1.40 (d)

Meet the Author

William Breit was E. M. Stevens Distinguished Professor Emeritus at Trinity University, SanAntonio.

Barry T. Hirsch is W. J. Usery Chair of the American Workplace at Georgia StateUniversity.

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Table of Contents

Introduction to the fifth edition

W. Arthur Lewis 1

Lawrence R. Klein 17

Kenneth J. Arrow 35

Paul A. Samuelson 49

Milton Friedman 65

George J. Stigler 79

James Tobin 95

Franco Modigliani 115

James M. Buchanan 137

William F. Sharpe 171

Ronald H. Coase 189

Douglass C. North 209

John C. Harsanyi 223

Myron S. Scholes 235

Gary S. Becker 251

Robert E. Lucas, Jr. 273

James J. Heckman 299

Vernon L. Smith 335

Clive W. J. Granger 357

Edward C. Prescott 369

Thomas C. Schelling 393

Edmund S. Phelps 421

Lessons from the Laureates: An Afterword 437

Notes 455

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