Summary in haiku form
Still unanswered in your mind?
Study more econ.
Summary in one paragraph
Need to add this…
Notes on specific pages
Page 198: Ken Arrow, Gerard Debreu, and the “Invisible Hand Theorems”
Ken Arrow shared the 1972 Nobel Prize (with John Hicks) “for their pioneering contributions to general economic equilibrium theory and welfare theory.”
Gerard Debreu won the 1983 Nobel Prize “for having incorporated new analytical methods into economic theory and for his rigorous reformulation of the theory of general equilibrium.”
Page 198: “Nash’s poker model…”
Page 199: Joseph Stiglitz
Joseph Stiglitz shared the 2001 Nobel Prize (with George “adverse selection” Akerlof and Michael Spence) “for their analyses of markets with asymmetric information.”
Page 200: Daniel Kahneman and behavioral economics
Daniel Kahneman shared the 2002 Nobel Prize (with Vernon Smith) “for having integrated insights from psychological research into economic science, especially concerning human judgment and decision-making under uncertainty.” His colleague and co-author Amos Tversky would almost have shared the prize had he lived long enough.
Page 200: “Save More Later”
Page 201: Gary Becker and the economics of crime
Gary Becker won the 1992 Nobel Prize “for having extended the domain of microeconomic analysis to a wide range of human behaviour and interaction, including nonmarket behaviour.”
Page 203: “Does anyone know where I can find a one-handed economist?”
This quote is popularly attributed to President Harry Truman, but there’s no proof that he actually said it.
Page 204: “Macroeconomics… That’s what our next book is going to be about…”
It’s true… expected publication date is late 2011 or early 2012!
