Existing uncertainties about the correct explanations for economic growth and business cycles cannot be settled by aggregative analysis within the neoclassical framework. Current disputes in theory rest largely on ad hoc, casually empirical, assumptions about departures from perfect rationality...

Existing uncertainties about the correct explanations for economic growth and business cycles cannot be settled by aggregative analysis within the neoclassical framework. Current disputes in theory rest largely on ad hoc, casually empirical, assumptions about departures from perfect rationality...

I was born in Milwaukee, Wisconsin, on June 15, 1916. My father, an electrical engineer, had come to the United States in 1903 after earning his engineering diploma at the Technische Hochschule of Darmstadt, Germany. He was an inventor and designer of electrical control gear, later also a patent...

Lecture to the memory of Alfred Nobel, December 8, 1978