Prize awarder for the Prize in Economic Sciences in Memory of Alfred Nobel The Royal Swedish Academy of Sciences is responsible for selecting the laureates in economic sciences. Since 1969, the Royal Swedish Academy of Sciences awards the Sveriges Riksbank Prize in Memory of Alfred Nobel. The Academy was founded in 1739 and has today…

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Nomination to the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel is by invitation only. The names of the nominees and other information about the nominations cannot be revealed until 50 years later. Process of nomination and selection The  sends confidential forms to persons who are competent and qualified to nominate. Qualified Nominators…

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I was born in Helsinki in 1949. My sister Marianne was born in 1946. Our parents were married when the war against the Soviet Union ended in 1944. My father had spent five years on the front like so many young Finnish men. The post-war years were challenging socially and economically. The government had to…

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Interview, December 2017 https://youtu.be/Zjbw69TBvps Interview with Richard H. Thaler, Laureate in Economic Sciences 2017, on 6 December 2017 during the Nobel Week in Stockholm, Sweden. Richard H. Thaler answers the following questions (the links below lead to clip on YouTube): – Did you ever think you would get the call from Stockholm? – What does…

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I was born in London in 1948. My parents were both doctors. My mother was a gynecologist at a time when women doctors in the U.K. were relatively uncommon; she was a German-born Jew, who had left Germany in 1933 just after Hitler came to power. My father was an epidemiologist of some distinction whose…

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Your Majesties, Your Royal Highnesses, Ladies and Gentlemen: Robert Kennedy once said, “Some men see things as they are and ask why. I dream of things that never were and ask why not.” Those words reveal a deep truth about Kennedy: he was an economist at heart – startling though that may…

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In the mid 20th century, economists found themselves in need of a new theoretical framework with which to tackle the comparison of fundamentally different types of economic organization, such as capitalist and socialist institutions. Discussions between the likes of Oskar Lange and led to the development of the idea that economic institutions could be viewed…

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In a remarkably succinct, ten-page article published in 1979, Paul Krugman proposed a new trade model that changed the way economists view the international exchange of goods. At the heart of the model lay two concepts that reflected the general twentieth century trend towards having more: the increased production of goods, leading to economies of…

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