Dear Steve and All,
Thanks for this note. It’s sad to see one of the great economists go, especially given his focus on the arts and his elegant, clear writing.
For those of you who don't get the New York Times, here is the link to William Baumol’s obituary
https://www.nytimes.com/2017/05/10/business/economy/william-baumol-dead-economist-coined-cost-disease.html
I especially enjoyed the last two paragraphs:
—snip—
Asked by the economist Alan Krueger in 2000 where his blockbuster ideas came from, Professor Baumol said he was always looking for a theory to explain any given human phenomenon, and if he were lucky, his speculation would turn out to be right.
“And sometimes I’m very lucky,” he continued, “and I turn out to be totally wrong. Because when I turn out to be totally wrong, that’s when the best ideas come out.”
—snip—
It was my privilege to meet him in 1984 when I was president and publisher of The Art Economist. We organized a conference at New York University, and he was one of the speakers.
My only regret is that I did not spend more time talking with him.
Yours,
Ken
> On May 12, 2017, at 7:16 PM, Stephen Carroll <[log in to unmask]> wrote:
>
> Those in the arts,
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> In the New York Times today (Friday) there is an obituary on the Nobel Prize winning economist William J. Baumol who was a pioneer in writing about he economic realities of the world of art. (he was also a painter). Very informative and worth reading.
> Steve Carroll
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