10-13-09

10-13-09-- Ms. Ostrom is the first woman to receive the economics prize in the 41-year history of the award. She is a political scientist, not an economist, and in honoring her, the judges seemed to suggest that economics should be thought of as an interdisciplinary field rather than a pure science governed by mathematics. “This award is part of the merging of the social sciences,” said Robert Shiller, a Yale University economist. “Economics has been too isolated and too stuck on the view that markets are efficient and self-regulating. It has derailed our thinking.”