Nobel memorial prize in economic sciences - A critical overview

Nobel memorial prize in economic sciences - A critical overview
Exploring Economics , 2020
Niveau: débutant
Perspective: Autre
Sujet: Réflexion sur l'économie
Format: Dossier

Image by Isaac Fryxelius from Pixabay

"For 50 years, the scientific prestige of the Nobel Prize has given authority to economic ideas at the heart of this system. And even though the stark consequences of the 2008 financial crisis are still felt today, these out-dated ideas remain dominant." Promoting Economic Pluralism

In this section, we collect material summarizing the insights and achievements of the Economics Nobel Prize. Besides giving you an overview of the laureates we want to provide you with critical perspectives on the work of the laureates as well as the prize itself.

As with all content on Exploring Economics, you are more than welcome to contribute: Write and compile an overview page for a missing Nobel Laureate in Economics.

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The Nobel Prize in Economics is more accurately called the „Sveriges Riksbank Prize in Economic Science in Memory of Alfred Nobel“ and has been awarded for the first time in 1969. On the occasion of its 300th anniversary in 1968, the Swedish National Bank established the prize and is still funding it until today. As the prize is awarded every year together with the Nobel Prizes that Alfred Nobel initiated in 1895 (for the categories Chemistry, Literature, Peace, Physics and Physiology/Medicine), it has become entrenched to call it Nobel Prize too. 

For more than 50 years the Nobel Prize in Economics is seen as the most prestigious award in its field and has given scientific authority to ideas that have shaped our economic system.

Nevertheless, ever since its beginning a lot of people have been questioning its existence and its importance. One argument, which has been put forward, is that Alfred Nobel himself is said to have been had the opinion that economic sciences is too unprecise and not on the same level as the before mentioned fundamental sciences.

Not the Nobel Prize is an alternative Nobel Prize, which is awarded each year starting from 2019 and has been initiated by Promoting Economic Pluralism:

  • Find out in less than 2 minutes what the idea behind Not The Nobel Prize is all about.
  • Two webinars (with e.g. Christian Felber, Ann Pettifor, or Steve Keen, ..) dealing with the question if there actually should be a Nobel Prize for Economists.
  • A more plural perspective by Avnet Offer about the history of the prize and the history of economics since the prize began.

Overview

2020: Auction theory and new auction formats

            Paul Milgrom and Robert Wilson

2019: Social Experiments to Alleviate Poverty

            Abhijit Banerjee, Esther Duflo, and Michael Kremer

    2019 Not the Nobel: Reimagine the Role of the State 

                Mariana Mazzucato

2018: The Economics of Climate Change

            William Nordhaus

2017: Integrating Economics with Psychology

            Richard Thaler

...

Of course, there are many more. Contact us to add critical summaries of the past price winners.

 

 

Tags: history of economic thought | nobel memorial prize economics
Welche Einführungslehrbücher werden im volkswirtschaftlichen Studium verwendet? Und welche Lehrbücher werden am häufigsten genutzt? 2018 Level: avancé Welche Lehrbücher werden in der VWL verwendet? Elsa Egerer und Christian Rebhan Universität Siegen First historical instances of colonialism such as the crusades are revisited. Then a lengthy account of the colonial experience of the Spanish Kingdom in South America and of the British Empire in India is given. The Indian case is illustrated with large amounts of archival materials from a colonial administrator. There the workings of the colonial bureaucracy and law and its (positive) achievements as well as the ignorance and arrogance of the external rulers are demonstrated. After narrating the Indian independence to some depth some recent colonial wars (Algeria, Vietnam, Congo, Angola) are briefly examined. In the end, the impact of colonialism on current, i.e. 1970s, (economic) international relations is discussed. The general tenor is that colonialism is a dysfunctional system. Still, agency is mostly placed with the empire rather than with the ruled. 1977 Level: débutant The Age of Uncertainty Episode 4 The Colonial Idea John Kenneth Galbraith BBC, CBC, KCET and OECA Die ökonomische Theorie hat mit Moral wenig oder gar nichts zu tun. In den gängigen Lehrbüchern der Mikroökonomie findet sich in den Stichwortverzeichnissen kein Eintrag zu Moral oder Ethik. Die Studierenden lernen über die Wirtschaft nachzudenken, aber sie lernen dabei nicht, systematisch über ethische Fragen zu reflektieren. Nach der neoklassischen Lehre, wie sie in den Lehrbüchern präsentiert wird, weist wirtschaftliches Handeln nicht grundsätzlich moralische Aspekte auf. 2015 Level: avancé Ökonomie und Moral: Eine kurze Theoriegeschichte Walter Otto Ötsch Institute für Ökonomie und Philosophie Cusanus Hochschule A concise introduction to Marx's Labour Theory of Value, the three ratios and the falling rate of profit hypothesis. 2009 Level: débutant Marx's Theory of Economic Crisis Cliff Bowman YouTube Das Video besteht aus vier unabhängigen Kurzvorträgen zur performativen Wissenschaft und zu dem Einfluss der Ökonomik auf gesellschaftliche Narrative und gesellschaftliches Handeln. Im ersten Vortrag führt Silja Graupe das Konzept der performativen Wissenschaft ein und beschreibt anhand von Beispielen wie ökonomische Narrative dazu genutzt werden, Einfluss auf das gesellschaftliche Handeln auszuüben. Der zweite Vortrag von Katrin Hirte behandelt die Verantwortung die der ökonomischen Ausbildung obliegt. Im dritten Vortrag leitet Walter Ötsch die Mächtigkeit von Bildern kognitionstheoretisch her und veranschaulicht sie anhand von kulturhistorischen Beispielen. Abschließend diskutiert Florian Rommel die Implikationen eines performativen Wissenschaftsverständnis für eine pluralen Ökonomik. 2015 Level: débutant Wechselwirkungen von Ökonomik und Gesellschaft Silja Graupe; Katrin Hirte; Walter Ötsch; Florian Rommel Netzwerk Plurale Ökonomik The documentary features a talk of the US-American writer and economic theorist Jeremy Rifkin summarising the main points of his 2011 book "The Third Industrial Revolution." 2018 Level: débutant The Third Industrial Revolution: A Radical New Sharing Economy Jeremy Rifkin VICE In this short video, John Holmwood problematizes Marxian Economics from a post-colonial perspective. 2021 Level: avancé Marx: Colonialism, Class and Capitalism John Holmwood https://www.connectedsociologies.org/

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Ce projet est le fruit du travail des membres du réseau international pour le pluralisme en économie, dans la sphère germanophone (Netzwerk Plurale Ökonomik e.V.) et dans la sphère francophone (Rethinking Economics Switzerland / Rethinking Economics Belgium / PEPS-Économie France). Nous sommes fortement attachés à notre indépendance et à notre diversité et vos dons permettent de le rester ! 

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