Monday, July 16, 2012

Kahneman Not The First

Non-economist to win the Economics Nobel. Everybody knows that John Nash who won the prize eight years before Kahneman is a mathematician. Who doesn't remember the award-winning movie A Beautiful Mind anyway?

Nash is not the first either. This honour could very well go to Kantorovich who snatched the prize in 1975 or to Hayek who took the Nobel home a year earlier. Which confirms that you don't necessarily have to study economics to understand how the economy works. And that having a non-economist as first-deputy governor is a pretty lame excuse for not having launched the Monetary Policy Committee. When you should have.

Speaking about Economics Nobels, here are five broad categories in which the first thirty-eight ones can be grouped into. That's useful information. Just in case you might be in the mood to get one.


Anonymous said...

Thank you for this post. I had read something about this by a former BOM Governor and I was almost convinced by his article. I realise that I was too quick to accept his opinion.

Could you please write something about system 1&2 as I did not understand the point he was trying to make?

Thanks and regards.

akagugo said...

Would you dare play this little game designed by former prize winners Roth and Shapley.

Sidenote, there is technically no "Economics Nobels", but a Prize in Economic Sciences. But I guess it's too late, like the millenium thing: most have prematurely celebrated it on the eve of 2000, not 2001.