[MLUG - DISCUSSION] Nobel in Economics

[Mike Miller <EMAIL:PROTECTED>]

On Tue, 9 Oct 2007, Mike Miller wrote:

> The World Bank produced this publication in late 2005:
>
> Where Is the Wealth of Nations?: Measuring Capital for the 21st Century
> http://go.worldbank.org/U055JOCQT0
>
> I found two versions of the PDF document:
>
> http://siteresources.worldbank.org/INTEEI/214578-1110886258964/20748034/All.pdf
> http://siteresources.worldbank.org/INTEEI/Home/20666132/WealthofNationsconferenceFINAL.pdf
>
> The first seems to be the formatted, published version and the second 
> seems to be a conference version from a couple of months earlier with 
> similar (identical?) text and better graphics.  --Mike


I have the impression that the kind of analysis undertaken in the World 
Bank report was highly influenced by the ideas of University of Minnesota 
Economics Professor Emeritus Leonid Hurwicz who won the Nobel Prize for 
Economics, announced this morning.  Here is a statement from his 
colleague, V. V. Chari:

"We've shifted focus away from the role of governments in solving the 
problems of poor countries to a focus on the rule of law, stable property 
rights, and provision of incentives to farmers, businesspeople, and others 
to act in ways that further the social interest.  The way Leo taught us to 
think has changed the world."

More:

http://nobelprize.org/nobel_prizes/economics/laureates/2007/
http://www1.umn.edu/umnnews/Feature_Stories/University_professor_wins_Nobel_Prize.html

Mike

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