Presentation Speech by Professor Karl-Göran Mäler of the Translation from the Swedish text Your Majesties, Your Royal Highnesses, Ladies and Gentlemen, Economic growth has in a dramatic way transformed the society and given us possibilities and freedom that only a few generations ago were not thought of. For better or worse the situation for man…

16 October 1986 THIS YEAR’S ECONOMICS PRIZE AWARDED FOR A SYNTHESIS OF THE THEORIES OF POLITICAL AND ECONOMIC DECISION-MAKING (PUBLIC CHOICE) has decided to award the1986 Alfred Nobel Memorial Prize in Economic Sciences to Professor James McGill Buchanan, George Mason University, Virginia, USA, for his development of the contractual and constitutional bases for the theory…

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  Born: October 3, 1919, Murfreesboro, Tennessee, USA Civil Status: Married (to Ann Bakke Buchanan on 5 October 1945), no children     Education 1948 Ph. D., University of Chicago 1941 M. S., University of Tennessee 1940 B. A., Middle Tennessee State College     Current position and title General Director, Center for Study of…

Presentation Speech by Professor Ragnar Bentzel of the Translation from the Swedish text Your Majesties, Your Royal Highnesses, Ladies and Gentlemen, This year’s prize in Economic Sciences has been awarded to Professor Franco Modigliani for his construction and development of the theory of household saving known as the life-cycle hypothesis and for his contributions to…

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I was born in London on 30 August 1913, the only child of Gilbert and Elsie Stone. My school days were spent first at Cliveden Place Preparatory School and then at Westminster School, which I attended from 1926 to 1930. At Westminster, I was on the classical side: my father, who was a barrister, destined…

Presentation Speech by Professor Erik Lundberg of the Translation from the Swedish text Your Majesties, Your Royal Highnesses, Ladies and Gentlemen, Economic reality as it appears in the course of the year can be regarded as innumerable transactions (billions and billions of them) between buyers and sellers. Methods of systematic summary and aggregation have to…