Books: Inside the Economist's Mind (I.T.E.M.) and Getting It Wrong

This Blog hosts discussion of issues relevant to the book, Inside the Economist's Mind, coedited by Nobel Laureate Paul A. Samuelson and William A. Barnett, published by Wiley/Blackwell, and the newer book by William A. Barnett, Getting It Wrong, published by MIT Press.

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William A. Barnett is Oswald Distinguished Professor of Macroeconomics at the University of Kansas and Director of the Center for Financial Stability in New York City. He was previously Research Economist at the Board of Governors of the Federal Reserve System in Washington, DC; Stuart Centennial Professor of Economics at the University of Texas at Austin; and Professor of Economics at Washington University in St. Louis. William Barnett has been a leading researcher in macroeconomics and econometrics. He is one of the pioneers in the study of chaos and nonlinearity in socioeconomic contexts, as well as a major figure in the study of the aggregation problem. He is Editor of the Emerald Press monograph series International Symposia in Economic Theory and Econometrics, and Editor of the journal Macroeconomic Dynamics, published by Cambridge University Press. He received his B.S. degree from M.I.T., his M.B.A. from the University of California at Berkeley, and his M.A. and Ph.D. from Carnegie Mellon University. He has published 20 books (as either author or editor) and over 140 articles in professional journals. His research has been published in 7 languages.


The book, Inside the Economist's Mind, is coedited by Paul A. Samuelson and William A. Barnett. Although this Blog is hosted solely by the latter coeditor, the following is the information in the book's front matter about Paul Samuelson:

Paul A. Samuelson was the first American to win the Nobel Prize in Economics. He is Professor Emeritus of Economics and Institute Professor at the Massachusetts Institute of Technology. Institute Professor is the highest rank awarded by MIT. His landmark 1947 book, Foundations of Economic Analysis, based upon his Ph.D. dissertation at Harvard University, established him as "the economists' economist" by raising the standards of the entire profession. Paul Samuelson's classic textbook, Economics, first published in 1948, is among the most successful textbooks ever published in the field. The book's 16 editions have sold over four million copies and have been translated into 41 languages. He received his B.A. degree from the University of Chicago and his M.A. and Ph.D. from Harvard University. As one of the profession's most productive scholars for over a half-century, he remains an intellectual force of towering stature.

Saturday, January 20, 2007

Financial Times of London

A review of the book has appeared in the January 20, 2007 issue of the Financial Times of London. The review is written by Ludovic Hunter-Tilney. Here is part of it:

"J.K. Galbraith joked that 'the only function of economic forecasting is to make astrology look respectable'. Just as economics is half way between science and guesswork, so too Inside the Economist's Mind blends academic analysis with biographical informality.

It comprises interviews with 16 economists, half of them Nobel Prize winners, conducted by fellow economists. The emphasis is on macroeconomic theorists such as Robert Lucas and Milton Friedman, though also numbered among the interviewees are central bankers including Paul Volcker, chairman of the Federal Reserve under the Carter and Reagan administrations, and Stanley Fischer, governor of the Bank of Israel.

The aim is to see how their lives and work have intersected. . . . the book's value for the layman is to humanise a branch of thought that is abstruse yet full of practical consequence for everyday life."

This latest review has been added to the rapidly growing list of reviews, commentaries, and endorsements for the book.


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