More on the 2009 Nobel Prize in Economics

by Don Boudreaux on October 14, 2009

in Complexity and Emergence, Cooperation, Economics, Energy, Hubris and humility, Property Rights

Three worthwhile posts, on Elinor Ostrom’s Nobel, from Knowledge Problem:

Henderson, Smith on the Nobel and its implications for economics

Paul Romer on the Nobel

Vincent and Elinor Ostrom and public ownership of natural resources

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  • Note well. Ostrom explicitly endorses Hayek's model of economic science and Hayek's explanatory strategy.

    And Williamson also endorses Hayek's account of the explanatory task of economics.

    Both Ostrom and Williamson cite Hayek's work repeatedly -- and cite his conceptions of as foundational to the thinking contained in their own work.

    And, importantly, they strengthen Hayek's explanatory program by filling gaps within it.

    This Nobel Prize in Economics is a Hayekian two'fer.
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