Economy Nobel prize 2001: The free market doesn't work

Abstract

THE RESEARCH OPENED BY AKERLOF IN THE SEVENTIES FOCUSED ON THE CRITICAL ANALYSIS OF THE GENERAL EQUILIBRIUM´S INSTRUMENTS REACHES POLITICAL DIMENSIONS THROUGH STIGLITZ´S CONTROVERSIAL POSITION AS BILL CLINTON ASSESSOR AND DURING HIS WORK-STATION IN THE WORLD BANK. BESIDES, ITS POLITICAL IMPORTANCE CAME FROM AKERLOF, YELLEN, SPENCE, STIGLITZ (AND OTHERS) RESEARCHES, BECAUSE THEY BROUGHT FORWARD TO PRESENT ECONOMIC SCIENCE, INSTRUMENTS CAPABLE TO RESPOND WITH QUALITATIVE DEVELOPMENT STRATEGIES TO THE "SIMPLEST” NEOLIBERAL ECONOMY POLICY´S CONCLUSIONS. THIS IS THE ATTEMPT OF THIS PAPER.