Lives of the Laureates, Fifth Edition

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Autobiographical accounts by twenty-three Nobel laureates provide a rich overview of contemporary economic thought and the creative process behind it. This collection offers an informal history of modern economics through personal essays that illuminate significant economic ideas and the journeys of intellectual discovery. The fifth edition features five new laureates alongside those from earlier years, including Vernon L. Smith and Clive W. J. Granger. It also includes a revised afterword, “Lessons from the Laureates.” Originating from a lecture series at Trinity University in San Antonio, these essays invite Nobelists to reflect on their development as economists in both personal and technical contexts. Each laureate successfully conveys complex concepts with clarity; for instance, Kenneth Arrow simplifies his “impossibility theorem,” while Lawrence Klein elucidates econometric “model building.” George Stigler adeptly describes his “information theory.” The collection showcases the diversity of economic thought, revealing unexpected connections among thinkers and highlighting the roles of luck and hard work in scientific discovery. Readers will appreciate the intricate tapestry of influences and experiences that shape the field of economics.