Alvin E. Roth and Lloyd S. Shapley shared the 2012 Nobel Prize in Economic Sciences for their work on matching supply and demand for everything from single men and women to organ donors and their recipients.
Unlike the movies, life rarely permits second takes. But the Second World War gave John Maynard Keynes, the patron saint of government activism, and Friedrich Hayek, the Cassandra who warned of the state’s destructive potential, just such opportunities.
For Yale’s Irving Fisher, inventor of the Rolodex and America’s economic oracle, the madness of World War I was epitomized by his daughter Margaret’s descent into insanity after her fiancé was drafted. When a bizarre surgery touted as a miracle cure killed her, Fisher saw Margaret as another of the war’s senseless casualties, and rededicated himself to finding remedies for the nation’s economic and other ills.
Yale economist Robert Shiller praises finance and defends Goldman Sachs Group Inc., while George Soros urges Angela Merkel not to hurl Europe into “deflationary debt trap” in two of our favorite business books of late. Here’s a list of recommended titles.