Liberty and Its Limits in the Work of Nobel Laureates in Economics


This colloquium contrasted the arguments of Nobel laureates on liberty and its limits through their reflections on institutions, markets, the role of government, and the rationality of human behavior.


Conference Readings

Becker, Gary. “Nobel Lecture: The Economic Way of Looking at Behavior.” Journal of Political Economy 101, no. 3 (1993): 385-409.

Cassidy, John. “Interview with Eugene Fama.” The New Yorker (January 13, 2010): 1-15.

Fama, Eugene. “Two Pillars of Asset Pricing.” Nobel Prize in Economics, Prize Lecture, 2013.

Hayek, F. A. “The Use of Knowledge in Society.” The American Economic Review 35, no. 4 (September 1945): 519-530.

Kahneman, Daniel. Thinking, Fast and Slow. New York: Farrar, Straus and Giroux, 2013.

North, Douglass C. “Institutions.” The Journal of Economic Perspectives 5, no. 1 (Winter 1991): 97-112. (accessed September 23, 2009).

Ostrom, Elinor. “Beyond Markets and States: Polycentric Governance of Complex Economic Systems.” American Economic Review 100, no. 3 (2010): 641-672.

Phelps, Edmund. “Toward a Model of Innovation and Performance: Along the Lines of Knight, Keynes, Hayek, and Polanyi.” Prepared for the Conference on Entrepreneurship and Economic Growth, Max­ Planck Institute and the Kauffman Foundation, Ringberg Castle, Tegernsee (Munich), May 8-9, 2006.

Romer, Paul. “On the Possibility of Progress.” Nobel Prize in Economics, Prize Lecture, 2019.

Roth, Alvin E. “Repugnance as a Constraint on Markets.” Journal of Economic Perspectives 21, no. 3 (2007): 37-58.

Shiller, Robert. Irrational Exuberance. Princeton: Princeton University Press, 2000.

Stiglitz, Joseph E. “Information and the Change in the Paradigm in Economics, Part II.” The American Economist 48, no. 1 (Spring 2004): 17-49.

Thaler, Richard. “Behavioral Economics: Past, Present, and Future.” American Economic Review 106, no. 7 (July 2016): 1577-1600.

Tirole, Jean. Economics for the Common Good. Princeton: Princeton University Press, 2017.