Essay Archives

Reinert

May 5th, 2012

Economics and the Public Sphere: The Rise of Esoteric Knowledge, Refeudalization, Crisis and Renewal

Submitted by Erik S. Reinert, Tallinn University of Technology, Estonia

After receiving the National Bank of Sweden’s 1973 ‘Nobel’ Prize in economics – shared with development economist Gunnar Myrdal – Friedrich von Hayek (1899-1992) held an unusual dinner speech where he quite explicitly criticized the prestigious prize he had just received: “…if I had been consulted whether to establish a Nobel Prize in economics, I [...]

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