Two professors from Harvard and MIT have been awarded the Nobel Prize in economics for contributions to contract theory -- the agreements that shape business, finance and public policy.Some apologists for big government.
Oliver Hart, 68, a British economist teaching at Harvard, and Bengt Holmström, 67, a Finnish economist teaching at MIT, were announced as the winners Monday by the Royal Academy of Sciences in Stockholm, Sweden.
"Contracts are essential to the functioning of modern societies," the academy said in its announcement. "Hart's and Holmström's research sheds light on how contracts help us deal with conflicting interests."
Monday, October 10, 2016
CNN Money reports:
Posted by Steve Bartin at 7:25 AM