A Quote by Robert F. Engle

The Nobel Prize in Economics is an incredible recognition for the work that my students, colleagues and I have done over the years. We all worked hard, but we were also lucky that the financial applications were so important.
The Nobel Prize is given as a personal award but it also honors the field of research in which I have worked and it also honors my students and colleagues.
If you look at the recent Nobel Prize winners, one couldn't say that the work didn't matter and the political commitment did. Who had ever heard of the Egyptian writer Naguib Mahfouz? He is not politically involved. Octavio Paz is a great poet, also not politically involved. The Nobel Prize is for literature, for the quality of work over the years.
The Nobel Prize is not very important for the winners - they are usually pretty successful people already. But it is valuable as a way of drawing the public's attention to important work in economics.
Modern Arabic literature achieved international recognition when Mahfouz was awarded the Nobel prize in 1988 (.....) Mahfouz also rendered Arabic literature a great service by developing, over the years, a form of language in which many of the archaisms and cliches that had become fashionable were discarded, a language that could serve as an adequate instrument for the writing of fiction in these times.
There must have been something in the air of Gary that led one into economics: the first Nobel Prize winner, Paul Samuelson, was also from Gary, as were several other distinguished economists.
My first reaction on being awarded the Nobel Prize was, actually, I thought of Fischer Black, my colleague. He unfortunately had passed away. And there was no doubt in my mind that if he were still alive, he would have been a co-recipient of the Nobel Prize.
People ask me often [whether] the Nobel Prize [was] the thing you were aiming for all your life, and I say that would be crazy. Nobody would aim for a Nobel Prize because, if you didn't get it, your whole life would be wasted. What we were aiming at was getting people well, and the satisfaction of that is much greater than any prize you can get.
The Nobel Prize is worth $1.5 million, but that's not the issue. Do the distinguished scientists who win the Nobel Prize need the money? Probably not. The honor is more important the money, and that's the case with the prize for African leadership as well.
I'm quite happy with the body of work that I've done, and I've done some really good work over the years that I'm proud of. I'm proud of some of the people that I've worked with, been lucky to have worked with.
While my parents never had the time or money to secure university education themselves, they were adamant that their children should. In comfort and in love, we were taught the joys of knowledge and of work well done. I only regret that neither my mother nor my father could live to see the day I would accept the Nobel Prize.
When I came to Berkeley, I met all these Nobel laureates and I got to know that they were regular people. They were very smart and very motivated and worked very hard, but they were still humans, whereas before they were kind of mythical creatures to me.
I received many prizes of course before the Nobel Prize and this is probably the last prize I get. But I felt when I see the patient and saying they were saved by the therapy we developed, that is the most moving, and also the time I feel my life has some meaning.
I think Bob Dylan showed us that songs can rise to the level of literature, and he proved it over and over again. That's why they keep trying to get him a Nobel Prize for literature: because there is no Nobel Prize for songwriting.
I think it is true to say that I am not the first Nobel Prize winner in economics to have little formal training in economics.
When, over fifty years ago, I first became interested in economics - as a discipline that provided the key to social structure and social problems - it never crossed my mind that one day I might be the honored recipient of a Nobel Memorial Prize.
George Stigler Nobel laureate and a leader of Chicago School was asked why there were no Nobel Prizes awarded in the other social sciences, sociology, psychology, history, etc. "Don't worry", Stigler said, "they have already have a Nobel Prize in ...Literature"
This site uses cookies to ensure you get the best experience. More info...
Got it!