Jump to ContentJump to Main Navigation
Lives of the LaureatesTwenty-three Nobel Economists$
Users without a subscription are not able to see the full content.

Roger W. Spencer and David A. Macpherson

Print publication date: 2014

Print ISBN-13: 9780262027960

Published to MIT Press Scholarship Online: May 2015

DOI: 10.7551/mitpress/9780262027960.001.0001

Show Summary Details
Page of

PRINTED FROM MIT PRESS SCHOLARSHIP ONLINE (www.mitpress.universitypressscholarship.com). (c) Copyright The MIT Press, 2022. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in MITSO for personal use.date: 04 July 2022

Vernon L. Smith

Vernon L. Smith

(p.267) Vernon L. Smith
Lives of the Laureates

Roger W. Spencer

David A. Macpherson

The MIT Press

This chapter looks at the career of Vernon L. Smith who received a Nobel Prize in 2002. Smith was born in 1927 and acquired his Ph.D. from Harvard University in 1955. He is currently professor of economics and law and chairman in finance and economics at Chapman University. He has made his career out of the study of markets. He wants to explain why, when liberalization efforts break through the political process, the pendulum swings back and gradually undermine wealth-creation and reduces the effectiveness of reforms. His publications include Economics: An Analytical Approach, Investment, Production: A Study in the Theory of a Capital-Using Enterprise, and Law and Economics of Irrational Behavior.

Keywords:   Vernon L. Smith, wealth-creation, irrational behavior, liberalization

MIT Press Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs, and if you can't find the answer there, please contact us.