Paul Samuelson. Milton Friedman. William Sharpe. These are just a few of the elite group of Nobel Laureates who represent innovative economic thought. In The Nobel Laureates, Marilu Hurt McCarty interlaces the extraordinary contributions of these world-class economists with the historical circumstances that motivated them, providing fascinating insight into modern economic thought.More than a chronological sketch of economic developments in the last half of the 20th century, readers will find a thorough examination and explanation of: Limits to rationality, market failure, and the role of government.Financing growth-promoting investments.Reducing risk in a zero-sum game.