A Quote by Simon Kuznets
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.
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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.
National Review once opined, many years ago, that, every year, the Nobel peace prize should go to the U.S. secretary of defense: The American military is the number-one guarantor of peace in the world. But maybe something like a Nobel freedom prize would be a more appropriate award for Reagan than a peace prize.
During my Ph.D. program, I became interested in the informational structure of markets that turned into the work on signaling, which was the part of my early work that was recognized for the Nobel Prize, but it was not really a subject at the time.
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.
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"
With the variety of fields within economics, broadly conceived and the increasing specialization of scholarly world, the award of a Nobel Memorial Prize honors not only the individual scholar but, implicitly, also a special field or a distinctive method.
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.
Women are afraid. It is unpopular to question the bible. They are creatures of tradition. They fear to question their position in the testament, as they feared to advocate suffrage fifty years ago. Now they are quarreling as to which were among the first to advocate it. You see they are not used to abuse as I am. In Albany, fifty years ago, when I went before the legislature to plead for a married woman's right to her own property, the women whom I met in society crossed the street rather than speak to me.
I am humbled and truly honored to be the recipient of The Key to the City and my own day by the District of Columbia.
I was asked the other day if I would be interested in the Nobel Prize, but I think that for me it would be an absolute catastrophe. I would certainly be interested in deserving it, but to
receive it would be terrible. It would just complicate even more the problems of fame. The only thing I really regret in life is not having a daughter.
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.
Social economic problems do not exist everywhere that an economic event plays a role as cause or effect - since problems arise only where the significance of those factors is problematical and can be precisely determined only through the application of methods of social-economics.
Two years ago I was on the train from Berlin to Frankfurt when I heard that the Nobel Peace Prize had been awarded to my close friend, the writer Liu Xiaobo, who is imprisoned in China. To me it was confirmation that universal values and a moral code do exist, and that the point of the Nobel Prize is to encourage writers to stand up for this moral code. Last Thursday I was once again on the train from Berlin to Frankfurt when I heard that the Nobel Prize for Literature had gone to Mo Yan. He is a state poet. I am utterly bewildered. Do these universal values not exist after all?
Two Americans have been awarded the Nobel Prize for Economics. They are the first to figure out all the charges on their telephone bill.
I'm not sure whether I could win a Nobel Prize or not, but the Nobel Committee called me, and, 'You got the Nobel Prize.' So, I was so, so happy, and I was so surprised.
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.
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