Posted: 07 Sep 2015 12:06 AM PDT
Posted: 06 Sep 2015 09:01 AM PDT
Part of an essay by David Warsh:
... For the old lions, Paul Samuelson and Milton Friedman, the '80s meant a bittersweet departure from the center stage of economics after forty years of dominating the scene. The two had entered their sixties; neither was out of steam. But the leaders of the next generation had become apparent: Lucas, in macroeconomics; Kenneth Arrow in nearly everything else.