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Tag Archives: economics

COMMENT: Economics and economic crises

COMMENT: By Paola Subacchi Once seen as modern witch doctors with exclusive knowledge, economists are now despised `experts’ Is the economics profession “in crisis”? Many policymakers, such as Andy Haldane, the Bank of England’s chief economist, believe that it is. Indeed, a decade ago, economists failed to see a massive …

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Contract theory earns pair Nobel Economics Prize

Stockholm, Sweden | AFP |  Two US-based academics won the Nobel Economics Prize on Monday for groundbreaking research on contract theory that has helped design insurance policies, executive pay and even prison management. Oliver Hart, a British-American economist, and Bengt Holmstrom of Finland “have developed contract theory, a comprehensive framework …

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