Read practically anything about current economic or sociopolitical events and you will almost certainly see the name of some economist. Such mentions are quite common in our day-to-day absorption of the world around us. Given the widespread role of economists in today’s society, this makes sense. However, how many of those names actually stick with you? Just about everyone knows, at least by name, who John Maynard Keynes or Milton Friedman is. But have you heard about Dale Mortensen, the economist at Northwestern University who won the 2010 Nobel Prize in Economics for his analysis of markets with search frictions? Are you aware of what that means?* Considering his recent award, it might be possible. How about Ardo Hansson? He’s the lead economist for China with the World Bank, and he recently discussed how higher interest rates in that nation won’t necessarily lead to an inflow of capital. Given the current interconnection between the Chinese and American economies, this is highly relevant information. Unfortunately, the economists that speak on this and other topics oftentimes get overshadowed in the media–their words may make headlines, but their names seem to be forgotten.
Friedman and Keynes have been featured on the covers of Time Magazine. Economists both old and new, alive and passed, will all be recognized in our new weekly feature.
