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Ostrom and Williamson win Nobel Prize

Ostrom and Williamson win Nobel Prize

This post has 41 Replies | 6 Followers

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hayekianxyz Posted: Mon, Oct 12 2009 7:41 AM

See here, here and here.

Good picks.

Edit: Subrick has a good post here.

"You don't need a weatherman to know which way the wind blows"

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Knight_of_BAAWA replied on Mon, Oct 12 2009 7:45 AM

Poor trolling.

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hayekianxyz replied on Mon, Oct 12 2009 7:48 AM

What?

"You don't need a weatherman to know which way the wind blows"

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tacoface replied on Mon, Oct 12 2009 7:50 AM

Why good?

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hayekianxyz replied on Mon, Oct 12 2009 7:57 AM

tacoface:

Why good?

  1. Most importantly, they're both great economists.
  2. They're both very influential economists, especially Williamson (I believe he's been cited more than any other economist).
  3. Austrians have used their insights in their work. As Klein indicates he's been influenced by Williamson quite a bit, other Austrians have used insights of Ostrom (for example Peter Leeson has entitled "What Africa Could Learn From the Ostroms" or something like that).

Funny because I was looking at books by Ostrom today in the library.

Now, Bawaa, if you're going to call me a troll. May I know why?

"You don't need a weatherman to know which way the wind blows"

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spetsnaz replied on Mon, Oct 12 2009 8:00 AM

i love it, some one on cafehayek wrote this:

Missed opportunity to give another one to Obama, for his future economic achievements.

 

Smile

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Knight_of_BAAWA replied on Mon, Oct 12 2009 8:05 AM

Because giving them the prize was like giving Krugman the prize, Giles--especially considering that "common property" ala "government owned" tends to be the worst polluted. Calculation argument in effect.

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hayekianxyz replied on Mon, Oct 12 2009 8:07 AM

And what about Williamson? (I'm guess you've not read so much as a paper by Ostrom, in fact, I'd venture a guess that you hadn't heard of her until today)

I still fail to see how I trolled. I posted about a topic that should be of some interest, I gave links and I gave my opinion.

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Sukrit Sabhlok replied on Mon, Oct 12 2009 8:23 AM

Does anyone know how the Nobel Prize nomination process works? I hope that someone nominates Hans Hoppe or Israel Kirzner each year.

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Knight_of_BAAWA replied on Mon, Oct 12 2009 8:25 AM

Calling their awarding a "good pick"? Come now, Giles. You can't straight-facedly tell me that you're not trying to troll with that.

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scineram replied on Mon, Oct 12 2009 8:30 AM

How do you know these are ungood without reading one single word of theirs?

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Knight_of_BAAWA replied on Mon, Oct 12 2009 8:31 AM

And you know I haven't....how?

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justinx0r replied on Mon, Oct 12 2009 9:06 AM

Williamson deserved it, for sure. Williamson won it for his work on how business firms, as structures, can resolve conflicts.

I don't see any problem with it.

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hayekianxyz replied on Mon, Oct 12 2009 9:08 AM

Justinx0r, I agree. I mean, Ostrom's famous book Governing the Commons contained empirical work on how people have voluntary governed the commons. Somehow this is the same as Krugman to BAWAA.

Why? Because I'm guessing BAWAA hasn't heard of either Ostrom or Williamson until today.

 

"You don't need a weatherman to know which way the wind blows"

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justinx0r replied on Mon, Oct 12 2009 9:15 AM

GilesStratton:

Justinx0r, I agree. I mean, Ostrom's famous book Governing the Commons contained empirical work on how people have voluntary governed the commons. Somehow this is the same as Krugman to BAWAA.

Why? Because I'm guessing BAWAA hasn't heard of either Ostrom or Williamson until today.

 

Exactly. Her work is about the formulation of rules and how the enforcement of said rules should be the domain of "insiders" - not the domain of the state. I'm not as familiar with her as Williamson but they both are excellent choices.

 

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Conza88 replied on Mon, Oct 12 2009 9:29 AM

What methodology do they use ?

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tacoface replied on Mon, Oct 12 2009 9:47 AM

http://www.lewrockwell.com/blog/lewrw/archives/39366.html

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justinx0r replied on Mon, Oct 12 2009 10:02 AM

tacoface:

http://www.lewrockwell.com/blog/lewrw/archives/39366.html

http://blog.mises.org/archives/010810.asp

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krazy kaju replied on Mon, Oct 12 2009 10:07 AM

I guess Peter Klein and Tom DiLorenzo must be trolls then. After all, this is what they had to say.

Mises Community Natural Rights Discussion Group

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Santtu replied on Mon, Oct 12 2009 10:29 AM

I have a unread copy of Williams' 'The Economic Institutions of Capitalism'. Maybe this will motivate me to read it through.

They do seem like a good pick for the prize, so congratulations are in order.


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