The hottest focus is on the Nobel Prize. Real econ

2022-10-16
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Focus on Nobel Prize: real economists are not "mass-produced" paper machines

Mao Shoulong (executive vice president of the Institute of public policy, Renmin University of China)

on October 8, 2018, the winners of the Nobel Prize in economics were announced, and the prize was shared by American economists William Nordhaus and Paul Romer. The reason is that they have made outstanding contributions to the research on the relationship between climate change, innovation and economic growth

the two have common characteristics: care about current affairs and mathematics

Professor William Nordhaus is very famous in China. Many students who have studied economics courses know him, because he is the second author of Samuelson's new edition of economics textbook, which is widely circulated in universities, and its latest Chinese edition is the 19th edition. Unfortunately, Professor Nordhaus has written many English works, but they have not been translated into Chinese

Professor Paul Romer's economic theory, Romer model, is also very famous. However, his academic achievements are mainly several academic papers, and there are basically no major works, and the core theoretical contribution is his doctoral thesis. Compared with many great scholars' works, its characteristics are obvious. For China, which attaches importance to the publication and quantity of new papers and works, Indeed, he said, "in fact, their needs are very similar, very" special " 。

the common characteristics of these two economists are that they are both good at mathematics and concerned about current affairs. Romer asked his students to read wall street every day, at least the first edition of the abstract

it's a bit like my American teacher Professor Eleanor Ostrom, the winner of the 2009 Nobel Prize in economics, and her husband Professor Vincent Ostrom, who subscribed to the wall street and the New York Times. They are kept in the kitchen of the office building during the day for students and colleagues to read, and take home to watch for themselves after work in the evening. They believe that in the study of economics, we should not only pay attention to the literature, but also maintain intuition and sensitivity to new things

they also like mathematics, but they are still vigilant against the abuse of mathematics. Economics should also pay attention to non mathematical methods, which does not prevent them from using mathematics well. In fact, being able to use mathematical methods is often an important factor in winning the Nobel Prize

their theoretical contributions were completed in the 1980s

Paul Romer is famous for Romer model, which believes that technological innovation is the endogenous driving force of economic growth, which is an improvement on the basis of neoclassical economic growth model

because this economic growth model is very famous and has had a great impact on the formulation of economic development policies in many developing countries, many people expect him to win the Nobel Prize in economics. In the past, his university put the news of his winning the Nobel Prize on the station three days before the announcement of the Nobel Prize in economics. It turned out to be an oolong, which made him very unhappy. So that after this award, he did not receive the award notice

William Nordhaus' economic contributions are relatively rich, so many people do not pay as much attention to his economic growth model as Professor Paul Romer, and the economics textbook written by him and Samuelson has too much influence, and his other economic contributions are covered under this halo

but its research field is relatively extensive, and the results are also very important. People who study the economics of climate change, such as rack and floor, have published articles in Chinese journals seven or eight years ago to introduce his contributions to the economics of climate change, and the title of the article says that he is one of the economists most likely to win the Nobel Prize in economics

Nordhaus and Romer both won the Nobel Prize in economics this time, but the Nobel Prize usually has a "delay". Their theoretical contributions were completed as early as the 1980s. 6 It has a history of nearly 40 years by connecting to a micro printer. This shows that the hardness of economic theory within the qualified range, from the professional order of the ivory tower to the market, to the society, to the government, has a great impact, and then it will take a cycle of 30 or 40 years for it to be recognized by the Nobel Prize in economics

this also shows that Chinese economists still have a long way to go to win the Nobel Prize in economics. Many theoretical contributions have not only received sustained attention in academia, but also had a worldwide impact on economic growth in reality, which has been tested for a long time

in this process, the efforts of economists alone are not enough, which also requires the economic professional order itself to move from a closed administrative order to an open public order. Now, the administrative closed evaluation system that calculates the output of that year, like the production team in the past, will only stifle the motivation of young scholars' theoretical innovation

real economists are economists with theoretical innovation value, economists who have a continuous impact on the real world, rather than papers and works production machines that are evaluated once a year, three years or five years. Its theoretical innovation should have its own value, not just reflected in what magazine it is published in, how many papers and works it has, and whether it is newly published

only professional public order can enable economists to maintain their original intention and not sacrifice the long-term value of theoretical innovation for short-term utilitarian pursuit. Only in this way can Chinese economists be closer to the level of the Nobel Prize in economics

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