Thomas Sowell–Black Rednecks and White Liberals–The Missing Nobel Laureates–Videos

Posted on June 15, 2010. Filed under: Blogroll, Books, College, Communications, Culture, Economics, Education, Employment, Farming, Federal Government, Fiscal Policy, Foreign Policy, government, government spending, Health Care, history, Language, Law, liberty, Life, Links, People, Philosophy, Politics, Quotations, Raves, Regulations, Resources, Security, Taxes, Technology, Video, War, Wisdom | Tags: Black Rednecks and White Liberals, Books, Economics, Intellectuals, Nobel Economics Prize, Nobel Peace Prize, Nobel Prize, Politics, Thomas Sowell |

“..the most fundamental question is not what decision to make but who is to make it–through what processes and under what incentives and constraints, and with what feedback mechanisms to correct the decision if it proves to be wrong.

~Thomas Sowell, Knowledge and Decisions, page xxii

Q&A with Thomas Sowell on C-Span part 1

Q&A with Thomas Sowell on C-Span part 2

Q&A with Thomas Sowell on C-Span part 3

Q&A with Thomas Sowell on C-Span part 4

Q&A with Thomas Sowell on C-Span part 5

Q&A with Thomas Sowell on C-Span part 6

Q&A with Thomas Sowell on C-Span part 7

The time has come for Thomas Sowell to receive for his life work in economics the Nobel Prize in Economics or more precisely The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel .

Unfortunately, I suspect that the Nobel Prize Committee will again ignore his work like it did the work of Ludwig von Mises.

The Nobel Committee also did not award the Noble Peace Prize to Mahatma Gandha.

An even better idea would be for the Ludwig von Mises Institute to seek funding from America’s most successful capitalist, Bill Gates, and establish a new annual economics prize, The Ludwig von Mises/Bill Gates Political Economy Prize .

I nominate Thomas Sowell for both prizes.

Fredrich A. Hayek shared the Nobel Economics Prize n 1974 with Gunnar Myrdal in 1974.

Hayek commented on Thomas Sowell’s Knowledge and Decisions that:

“In a wholly original manner [Sowell] succeeds in translating abstract and theoretical argument into a highly concrete and realistic discussion of the central problems of contemporary economic policy.”

Milton Friedman who received the Nobel Economics Prize in 1976 commented on Thomas Sowell’s Knowledge and Decisions that:

“This is a brilliant book. Sowell illuminates how every society operates. In the process he also shows how the performance of our own society can be improved.”

Thomas Sowell has written many books and articles on economics including:

BOOKS WRITTEN:
	The Housing Boom and Bust: Revised Edition (2010)	amazon.com	Barnes & Noble
	Intellectuals and Society (2009)	amazon.com	Barnes & Noble
	The Housing Boom and Bust (2009)	amazon.com	Barnes & Noble
	Applied Economics (2009)	amazon.com	Barnes & Noble
	Economic Facts and Fallacies (2008)	amazon.com	Barnes & Noble
	A Conflict of Visions, Revised Edition (2007)	amazon.com	Barnes & Noble
	Basic Economics: A Common Sense Guide to the Economy, Third Edition (2007)	amazon.com	Barnes & Noble
	A Man of Letters (2007)	amazon.com	Barnes & Noble
	On Classical Economics (2006)	amazon.com	Barnes & Noble
	Black Rednecks and White Liberals (2005)	amazon.com	Barnes & Noble
	Affirmative Action Around the World: An Empirical Study (2004)	amazon.com	Barnes & Noble
	Basic Economics: A Citizen’s Guide to the Economy, Second Edition (2004)	amazon.com
	Applied Economics: Thinking Beyond Stage One (2003)	amazon.com	Barnes & Noble
	The Einstein Syndrome: Bright Children Who Talk Late (2001)	amazon.com	Barnes & Noble
	Basic Economics: A Citizen’s Guide to the Economy (2000)	amazon.com
	A Personal Odyssey (2000)	amazon.com	Barnes & Noble
	The Quest for Cosmic Justice (1999)	amazon.com	Barnes & Noble
	Conquests and Cultures: An International History (1998)	amazon.com	Barnes & Noble
	Late-Talking Children (1997)	amazon.com	Barnes & Noble
	Migrations and Cultures: A World View (1996)	amazon.com	Barnes & Noble
	The Vision of the Anointed: Self-Congratulation as a Basis for Social Policy (1995)	amazon.com	Barnes & Noble
	Race and Culture: A World View (1994)	amazon.com	Barnes & Noble
	Inside American Education: The Decline, The Deception, The Dogmas (1993)	amazon.com	Barnes & Noble
	Preferential Policies: An International Perspective (1990)	amazon.com	Barnes & Noble
	Choosing a College: A Guide for Parents and Students (1989)	amazon.com	Barnes & Noble
	A Conflict of Visions: Ideological Origins of Political Struggles (1987)	amazon.com	Barnes & Noble
	Marxism: Philosophy and Economics (1985)	amazon.com	Barnes & Noble
	Civil Rights: Rhetoric or Reality (1984)	amazon.com	Barnes & Noble
	The Economics and Politics of Race: An International Perspective (1983)	amazon.com	Barnes & Noble
	Ethnic America: A History (1981)	amazon.com	Barnes & Noble
	Markets and Minorities (1981)
	Knowledge and Decisions (1980)	amazon.com	Barnes & Noble
	Race and Economics (1975)	amazon.com
	Classical Economics Reconsidered (1974)	amazon.com	Barnes & Noble
	Say’s Law: An Historical Analysis (1972)	amazon.com
	Black Education: Myths and Tragedies (1972)	amazon.com
	Economics: Analysis and Issues (1971)

ARTICLES IN SCHOLARLY PUBLICATIONS:

“A Student’s Eye View of George Stigler,” Journal of Political Economy,
           October 1993, pp. 784-792.
“Jean-Baptiste Say,” The New Palgrave: A Dictionary of Economics, Vol. 4, p. 249;
           “Say’s Law,” Ibid., pp. 249-251; “Jean Charles Leonard Simonde de Sismondi,”
           Ibid., pp. 348-350; “Stigler as a Historian of Economic Thought,”
           Ibid., pp. 498-499; “Thorstein Veblen,” Ibid., pp. 799-800.
“Assumptions versus History in Ethnic Education,” Teachers College Record,
           Fall 1981, pp. 37-71.
“Weber and Bakke, and the Presuppositions of ‘Affirmative Action’,”
           Wayne Law Review, July 1980, pp. 1309-1336.
“Adam Smith in Theory and Practice” Adam Smith and Modern Political Economy,
           edited by G. P. O’Driscoll, pp. 3-18. (1979)
“Sismondi: A Neglected Pioneer,” History of Political Economy,
           Spring 1972, pp. 62-88.
“Samuel Bailey Revisited,” Economica, November 1970, pp. 402-408.
“The ‘Evolutionary’ Economics of Thorstein Veblen,”
           Oxford Economic Papers, July 1967, pp. 177-198.
“Marx’s Capital After One Hundred Years,” Canadian Journal of Economics
           and Political Science, February 1967, pp. 50-74.
“The Shorter Work Week Controversy,” Industrial and Labor Relations
           Review, January 1965, pp. 238-246.
“The General Glut Controversy Reconsidered,” Oxford Economic
           Papers, November 1963, pp. 193-203.
“Marxian Value Reconsidered,” Economica, August 1963, pp. 297-308.
“Karl Marx and the Freedom of the Individual,” Ethics, January 1963, pp. 119-126.
“Malthus and the Utilitarians,” Canadian Journal of Economics
           and Political Science, May 1962, pp. 268-274.
“Marx’s ‘Increasing Misery’ Doctrine,” American Economic Review,
           March 1960, pp. 111-120.

The impact, prescience and application of Thomas Sowell’s writings can be seen in the current oil well accident and oil spill in the Gulf of Mexico and government’s response and intervention into the emergency and continuing crisis.

“A mere enumeration of government activity is evidence — often the sole evidence offered — of “inadequate” nongovernment institutions, whose “inability” to cope with problems “obviously” required state intervention. Government is depicted as acting not in response to its own political incentives and constraints but because it is compelled to do so by concern for the public interest: it “cannot keep its hands off” when so “much is at stake,” when emergency “compels” it to supersede other decision making processes. Such a tableau simple ignores the possibility that there are political incentives for the production and distribution of “emergencies” to justify expansions of power as well as to use episodic emergencies as a reason for creating enduring government institutions.”

~Thomas Sowell, Knowledge and Decisions

Background Articles and Videos

Economics and Moral Courage | Llewellyn H. Rockwell, Jr.Thomas Sowell Home Page

http://www.tsowell.com/

Thomas Sowell

“…Thomas Sowell (born June 30, 1930), is an American economist, social critic, political commentator and author. He often writes as an advocate of laissez-faire economics. He is currently a senior fellow of the Hoover Institution at Stanford University. In 1990, he won the Francis Boyer Award, presented by the American Enterprise Institute. In 2002 he was awarded the National Humanities Medal for prolific scholarship melding history, economics, and political science. In 2003, he was awarded the Bradley Prize for intellectual achievement.^[1]

Sowell was born in Gastonia, North Carolina. His father died before he was born. In his autobiography, A Personal Odyssey, he recalled that his encounters with whites were so limited he didn’t believe that “yellow” was a hair color. He moved to Harlem, New York City with his mother’s sister (who, at the time, he believed was his mother). Sowell attended Stuyvesant High School, but dropped out at age 17 because of financial difficulties and a deteriorating home environment.^[2] To support himself he worked at various jobs, including in a machine shop and as a delivery man for Western Union. He applied to enter the Civil Service and was eventually accepted, which prompted a move to Washington DC. He was drafted in 1951, during the Korean War, and was assigned to the US Marine Corps. Due to prior experience in photography, he worked in a photography unit.

After discharge, Sowell passed the GED examination and enrolled at Howard University. He transferred to Harvard University, where in 1958 he graduated magna cum laude with a Bachelor of Arts degree in Economics. He received a Master of Arts in Economics from Columbia University in 1959, and a Doctor of Philosophy in Economics from the University of Chicago. Sowell initially chose Columbia University because he wanted to study under George Stigler. After arriving at Columbia and learning that Stigler had moved to Chicago, he followed him there.^[3]

Sowell has taught Economics at Howard University, Cornell University, Brandeis University, and UCLA. Since 1980 he has been a Senior Fellow of the Hoover Institution at Stanford University, where he holds a fellowship named after Rose and Milton Friedman.^[4]

Sowell has stated that he was a Marxist during “the decade of my 20s.” His experience working as a federal government intern during the summer of 1960 caused him to reject Marxism in favor of free market economic theory. His intern work revealed a correlation between the rise of mandated minimum wages for workers in the sugar industry of Puerto Rico and the rise of unemployment in that industry. Studying the patterns led to his conclusion that the government employees who administered the minimum wage law cared not that they may be causing higher unemployment of the poor by enforcing that law; their primary concern was keeping their own jobs secure.^[5]

Senior Fellow, Hoover Institution, Stanford University, September 1980–present
Professor of Economics, UCLA, July 1974–June 1980
Visiting Professor of Economics, Amherst College, September–December 1977
Fellow, Hoover Institution, Stanford University, April–August 1977
Fellow, Center for Advanced Study in the Behavioral Sciences, July 1976–March 1977
Project Director, The Urban Institute, August 1972–July 1974
Associate Professor of Economics, UCLA, September 1970–June 1972
Associate Professor of Economics, Brandeis University, September 1969–June 1970
Assistant Professor of Economics, Cornell University, September 1965–June 1969
Economic Analyst, American Telephone & Telegraph Co., June 1964–August 1965
Lecturer in Economics, Howard University, September 1963–June 1964
Instructor in Economics, Douglass College, Rutgers University, September 1962–June 1963
Labor Economist, U.S. Department of Labor, June 1961–August 1962 …”

http://en.wikipedia.org/wiki/Thomas_Sowell

2009, The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
Elinor Ostrom, Oliver E. Williamson

2008, The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
Paul Krugman

2007, The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
Leonid Hurwicz, Eric S. Maskin, Roger B. Myerson

2006, The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
Edmund S. Phelps

2005, The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
Robert J. Aumann, Thomas C. Schelling

2004, The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
Finn E. Kydland, Edward C. Prescott

2003, The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
Robert F. Engle III, Clive W.J. Granger

2002, The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
Daniel Kahneman, Vernon L. Smith

2001, The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
George A. Akerlof, A. Michael Spence, Joseph E. Stiglitz

2000, The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
James J. Heckman, Daniel L. McFadden

1999, The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
Robert A. Mundell

1998, The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
Amartya Sen

1997, The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
Robert C. Merton, Myron S. Scholes

1996, The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
James A. Mirrlees, William Vickrey

1995, The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
Robert E. Lucas Jr.

1994, The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
John C. Harsanyi, John F. Nash Jr., Reinhard Selten

1993, The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
Robert W. Fogel, Douglass C. North

1992, The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
Gary S. Becker

1991, The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
Ronald H. Coase

1990, The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
Harry M. Markowitz, Merton H. Miller, William F. Sharpe

1989, The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
Trygve Haavelmo

1988, The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
Maurice Allais

1987, The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
Robert M. Solow

1986, The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
James M. Buchanan Jr.

1985, The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
Franco Modigliani

1984, The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
Richard Stone

1983, The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
Gerard Debreu

1982, The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
George J. Stigler

1981, The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
James Tobin

1980, The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
Lawrence R. Klein

1979, The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
Theodore W. Schultz, Sir Arthur Lewis

1978, The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
Herbert A. Simon

1977, The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
Bertil Ohlin, James E. Meade

1976, The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
Milton Friedman

1975, The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
Leonid Vitaliyevich Kantorovich, Tjalling C. Koopmans

1974, The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
Gunnar Myrdal, Friedrich August von Hayek

1973, The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
Wassily Leontief

1972, The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
John R. Hicks, Kenneth J. Arrow

1971, The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
Simon Kuznets

1970, The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel
Paul A. Samuelson

http://nobelprize.org/nobel_prizes/economics/laureates/

Hayek and the Nobel Prize

By Murray N. Rothbard

“…The grant of a 1974 Nobel Prize in Economic Science to the great Austrian free-market economist Dr. Friedrich A. von Hayek comes as a welcome and blockbuster surprise to his free-market admirers in this country and throughout the world. For since the death last year of Hayek’s distinguished mentor, Ludwig von Mises, the 75-year-old Hayek ranks as the world’s most eminent free-market economist and advocate of the free society.

The Nobel award comes as a surprise on two counts. Not only because all the previous Nobel Prizes in economics have gone to left-liberals and opponents of the free market, but also because they have gone uniformly to economists who have transformed the discipline into a supposed “science” filled with mathematical jargon and unrealistic “models” which are then used to criticize the free-enterprise system and to attempt to plan the economy by the central government.

F.A. Hayek is not only the leading free-market economist; he has also led the way in attacking the mathematical models and the planning pretensions of the would-be “scientists,” and in integrating economics into a wider libertarian social philosophy. Both concepts have so far been anathema to the Nobel establishment.

We can only speculate on the motivations of the Nobel committee in this welcome, if overdue, tribute to Friedrich von Hayek. Perhaps one reason is the evident and galloping breakdown of orthodox Keynesian “macroeconomics,” which leads even the most hidebound economists to at least consider alternative theories and solutions. Perhaps another reason was a desire to grant a co–Nobel Prize to the notorious left-wing socialist Dr. Gunnar Myrdal, and granting one to Hayek out of a recognized need for political “balance.” Thus, in granting prizes to these two polar opposites, the Royal Swedish Academy of Sciences cited both Hayek and Myrdal “for their pioneering work in the theory of money and economic fluctuations and for their pioneering analysis of the interdependence of economic, social and institutional phenomena.” …”

“…We could go on and on. But enough has been said here to point to the great scope, erudition, and richness of F.A. Hayek’s contributions to economics and to political philosophy. Like his great mentor, Ludwig von Mises, F.A. Hayek has persisted with high courage in opposing the socialism and statism of our time. But not only has he unswervingly opposed the current fashions of Keynesianism, inflation, and socialism; he has — with nobility, courtesy, and great erudition — pursued his researches to provide us with the alternative concepts of the free economy and the free society.

F.A. Hayek richly deserves not only the Nobel Prize but any honors we can bestow upon him. But the greatest tribute we can make, to Hayek and to Mises, is to dedicate ourselves to rolling back the statist tide and proceeding onward to a society of freedom.”

http://mises.org/daily/4082

Mahatma Gandhi, the Missing Laureate
by Øyvind Tønnesson

“…Mohandas Gandhi (1869-1948) has become the strongest symbol of non-violence in the 20th century. It is widely held – in retrospect – that the Indian national leader should have been the very man to be selected for the Nobel Peace Prize. He was nominated several times, but was never awarded the prize. Why?

These questions have been asked frequently: Was the horizon of the Norwegian Nobel Committee too narrow? Were the committee members unable to appreciate the struggle for freedom among non-European peoples?” Or were the Norwegian committee members perhaps afraid to make a prize award which might be detrimental to the relationship between their own country and Great Britain? …”

“…Up to 1960, the Nobel Peace Prize was awarded almost exclusively to Europeans and Americans. In retrospect, the horizon of the Norwegian Nobel Committee may seem too narrow. Gandhi was very different from earlier Laureates. He was no real politician or proponent of international law, not primarily a humanitarian relief worker and not an organiser of international peace congresses. He would have belonged to a new breed of Laureates.

There is no hint in the archives that the Norwegian Nobel Committee ever took into consideration the possibility of an adverse British reaction to an award to Gandhi. Thus it seems that the hypothesis that the Committee’s omission of Gandhi was due to its members’ not wanting to provoke British authorities, may be rejected.

In 1947 the conflict between India and Pakistan and Gandhi’s prayer-meeting statement, which made people wonder whether he was about to abandon his consistent pacifism, seem to have been the primary reasons why he was not selected by the committee’s majority. Unlike the situation today, there was no tradition for the Norwegian Nobel Committee to try to use the Peace Prize as a stimulus for peaceful settlement of regional conflicts.

During the last months of his life, Gandhi worked hard to end the violence between Hindus and Muslims which followed the partition of India. We know little about the Norwegian Nobel Committee’s discussions on Gandhi’s candidature in 1948 – other than the above quoted entry of November 18 in Gunnar Jahn’s diary – but it seems clear that they seriously considered a posthumous award. When the committee, for formal reasons, ended up not making such an award, they decided to reserve the prize, and then, one year later, not to spend the prize money for 1948 at all. What many thought should have been Mahatma Gandhi’s place on the list of Laureates was silently but respectfully left open.”

http://nobelprize.org/nobel_prizes/peace/articles/gandhi/

First woman to receive Nobel prize in economics

Berkeley professor wins the Nobel

Background Articles and Videos

Paul Krugman

“…Paul Robin Krugman (pronounced /ˈkruːɡmən/;[3] born February 28, 1953) is an American economist, liberal columnist and author. He is Professor of Economics and International Affairs at the Woodrow Wilson School of Public and International Affairs, Princeton University, Centenary Professor at the London School of Economics, and an op-ed columnist for The New York Times.[4][5] In 2008, Krugman won the Nobel Memorial Prize in Economics for his contributions to New Trade Theory and New Economic Geography. He was voted sixth in Prospect Magazine’s 2005 global poll of the world’s top 100 intellectuals.[6]

The Nobel Prize Committee stated that Krugman’s main contribution had been to explain patterns of international trade and the geographic concentration of wealth by examining the impact of economies of scale and of consumer preferences for diverse goods and services.[7] Krugman’s work on international economics, including trade theory, economic geography, and international finance[8][9] has established him as one of the most influential economists in the world according to IDEAS/RePEc.[10] Krugman is also known in academia for his work on liquidity traps and on currency crises.

As of 2006, Krugman had written or edited more than 25 books, 40 scholarly articles and 750 columns at The New York Times dealing with current economic and political issues.[11] Krugman’s International Economics: Theory and Policy, co-authored with Maurice Obstfeld is a standard introductory textbook on international economics. He also writes on political and economic topics for the general public, as well as on topics ranging from income distribution to international economics. Krugman considers himself a liberal, calling one of his books and his New York Times blog: “The Conscience of a Liberal”.[12] …”

Raymond T. Pronk

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~Thomas Sowell, Knowledge and Decisions, page xxii

Q&A with Thomas Sowell on C-Span part 1

Q&A with Thomas Sowell on C-Span part 2

Q&A with Thomas Sowell on C-Span part 3

Q&A with Thomas Sowell on C-Span part 4

Q&A with Thomas Sowell on C-Span part 5

Q&A with Thomas Sowell on C-Span part 6

Q&A with Thomas Sowell on C-Span part 7

ARTICLES IN SCHOLARLY PUBLICATIONS:

~Thomas Sowell, Knowledge and Decisions

Background Articles and Videos

Economics and Moral Courage | Llewellyn H. Rockwell, Jr.Thomas Sowell Home Page

Thomas Sowell

Hayek and the Nobel Prize

Mahatma Gandhi, the Missing Laureate by Øyvind Tønnesson

First woman to receive Nobel prize in economics

Berkeley professor wins the Nobel

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Mahatma Gandhi, the Missing Laureate
by Øyvind Tønnesson