Economic Sciences

Banquet speech

Daniel L. McFadden’s speech at the Nobel Banquet, December 10, 2000 Your Majesties, Your Royal Highnesses, Ladies and Gentlemen, The term “economics”, in its original Greek, means “of the hearth”, the ancient and practical science of household management. Over the millennia, the discipline has transformed itself into a grander enterprise, speaking sagely of the organization…

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Banquet speech

Your Majesties, Your Royal Highness, Ladies and Gentlemen, More than two millennia ago, the poet Horace said, “It is lovely to be silly at the right moment.” Well, I plead silliness in taking this to be the right moment. Here is my first silly thought. Disciplinary boundaries can generate giddy suspicions. Physicists…

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