As I do every year, I wake up around 3 a.m. PDT on Columbus Day (also known as Indigenous People’s Day or Canadian Thanksgiving) to find out who won the Nobel Prize in Economics. Check. Then estimate whether you know enough about his, her, or their job to write an article in the morning. wall street journal To run. This year was no exception.
The editor wrote in my editorial, “Nobel Prize in Economics for “Inclusive” Free Markets,” wall street journalOctober 14, 2024.
After 30 days, the contract allows all work to be performed.
On the other hand, there are two paragraphs:
The Royal Swedish Academy of Sciences has awarded the Nobel Prize in Economics to three economists. The winners are Turkish-born Daron Acemoglu and British-born Simon Johnson of the Massachusetts Institute of Technology, and British-born James A. Robinson, an economist and political scientist at the University of Chicago. They received the award for their “research into how institutions form and influence prosperity.”
and:
As I pointed out, 2013 review In Why Nations Fail, Adam Smith observed that natural resources would be less abundant in the future Canada and the United States than in Latin America. However, the economic institutions that the Spanish government established in Latin America were less oriented toward free markets and property rights than the economic institutions that Britain established in northern North America. It is a shame that Mr. Acemoglu and Mr. Robinson did not mention Mr. Smith’s insight. Nor did he cite economist Mancur Olson’s 1982 book, The Rise and Fall of Nations, which anticipated the Nobelists’ hypothesis.
I wish I had known about my co-blogger Pierre Lemieux devastating criticism Acemoglu and Johnson’s article (scroll down for link) power and progress before writing about me WSJ piece.
PS I go after Mr. Acemoglu in the last paragraph for supporting the Brazilian government’s attack on free speech.
