"A COMMENT ON THE SEARCH MARKET THEORY OF THE 2010 NOBEL PRIZE WINNERS IN ECONOMICS"

Libing Deng, Xingqi Fang

Research output: Contribution to journalArticle

Abstract

"Peter Diamond and two other economists have been awarded the 2010 Nobel Prize
in Economics for search market theory. The Royal Swedish Academy of Sciences recognizes that
their analysis of market with search frictions is a fundamental contribution to labor economics.
Objectively speaking, the valuable point of such analysis lies in its anti neo-liberalism tendency
and the explanation for some sort of unemployment. However, search market theory cannot
interpret the unemployment problem in the general sense. It is not right to take a completely
negative or idolatrous attitude towards the Nobel Prize, and we should face it with the scientific
attitude of seeking truth from facts."
Original languageEnglish
Pages (from-to)729-736
Number of pages8
JournalWorld Review of Political Economy
Volume1
Issue number4
Publication statusPublished - 2010
Externally publishedYes

Fingerprint

Economics
Nobel prize
Unemployment
Labor economics
Economists
Search frictions
Neoliberalism

Keywords

  • searching costs
  • great leisure
  • involuntary unemployment
  • Nobel Prize

Cite this

"A COMMENT ON THE SEARCH MARKET THEORY OF THE 2010 NOBEL PRIZE WINNERS IN ECONOMICS". / Deng, Libing ; Fang, Xingqi .

In: World Review of Political Economy, Vol. 1, No. 4, 2010, p. 729-736.

Research output: Contribution to journalArticle

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