Nobel Prize in Economics
has a good short note over at NRO on Elinor Ostrom and Oliver Williamson, the recipients of the Nobel in economics, and their achievements.
They "have deepened our understanding of economic governance. More
specifically, Ostrom and Williamson have shown how it is possible for
firms and other communities to facilitate economic efficiency from 'within.' In this sense, they follow in the footsteps of another Nobel
laureate, Ronald Coase, whose groundbreaking 1937 article, 'The Nature
of the Firm,' did so much to establish the idea that businesses reduce
4:35 PM / October 12, 2009