NOBEL PRIZE AS THE RESULT OF VERSATILE AND BOLD SCIENTIFIC RESEARCH

Summary: Robert Fogel and Douglass North won the 1993 Nobel Memorial Prize in Economic Sciences for having renewed research in economic history by applying economic theory and quantitative methods in order to explain economic and institutional change. Today Robert Fogel is rightfully considered the father of modern economic history and the creator of the term cliometrics (Clio – the Greek Muse of history). Apart from being among the most significant economic historians and econometricians, he has greatly contributed to the research in the fields of demography, socio-psychology and economic politics.