Allais' Economics

1336 Words Jan 7th, 2018 5 Pages
It was reported in the New York Times that at the time of his selection, "The five-member selection committee cited Dr. Allais mainly for his"¦research in the theory of markets"¦especially in state-run monopolies" (Lohr). This fact, more than any other, may be imputed to the particular zeitgeist in which Allais lived and composed his most formidable economic treatises, 1943's In Quest of An Economic Discipline, Part I, Pure Economics, and 1947's Economy and Interest (No author).
As the author himself stated quite eloquently during the paper he presented while he was given his Nobel Award, "An Outline of My Main Contributions to Economic Science", his work in economics was not motivated by lofty ambitions or theory, but by pragmatic realities that he witnessed during the time period leading up to Second World War. Eminent events during this epoch included a visit to America during the Great Depression as well as the economic and political turmoil that plagued France prior to its German occupancy immediately following the French elections of 1936 (Allais 234). Nationalism, quite simply, was a…

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