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Cake day: October 9th, 2023

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  • I don’t think any field of any research comes down to one person. Nevertheless, academics recognize that some people make greater contributions than others.

    This is baked into academia in the form of citation. At the moment you wrote your first bibliography you distinguished those who made significant contributions to your own work. It would have been unacceptable to write an academic bibliography consisting of a single line: “All those who came before”.

    And even though research is always a collaborative effort, like soccer and filmmaking, it is natural for humans to recognize those who made the greatest contributions. That’s why we award MVPs to athletes, Oscars to actors, and Nobels to economists.





  • The economics prize is funded by Sveringes Riksbank but they are not involved in selecting a winner. Neither is the government. The Royal Swedish Academy of Sciences is solely responsible for selecting the winner, and it is not part of government.

    Here’s the thing about economics: the “dismal science” is often trying to prove - or disprove - what appears to be common sense.

    For instance, to some it’s common sense that minimum wage increases cause more unemployment. To others, it’s common sense that they don’t. Eventually economists will reach a consensus, and it will be “not news” to half the population.

    Since you’ve done research in this field, you must be aware that Acemoglu and Robinson have been publishing on this topic for ~20 years. Is there some earlier economist who was not properly given credit for their results?