Jean Tirole of the Institute of Industrial Economics at the University of Toulouse is the third Frenchman awarded the highest scientific honors in economics. And another Frenchman, Patrick Modiano next to the writer, in this year’s hand. Professor Tirole has been addressing the regulation of corporations, in other words, rebukes mono and oligopolies. More specifically, explores issues of regulation and its application, depending on the industry. And in their research uses among others apparatus of game theory.
Verdicts Nobel Prize in economics, but actually rewards the most outstanding achievements of economic thought, however, also reflect the spirit of the time (not to say that are marked political intention). Strong indication of the prominent representative of this school of economics, which does not recognize the dogma of efficient and self-regulating market is a clear signal that the climate is changing and returns the interest concepts that would subject the excesses of the free market control. Well, unable to end the crisis erupted just as a result of insufficient regulation of the financial sector and banking. The pendulum is reflected in the opposite direction at a time when swing out toward the free market people like Tirole had little time to develop their ideas.
The European Research Council (ERC) recalled the way that Jean Tirole is the third European, among this year’s Nobel Prize winners, who were awarded the prestigious ERC grants. All in all, a good year for Europe, which science still holds up well. Beginning with the entry recording the interview with Jean Tirole hard not to read a bit ironic – the conversation leads Adam Smith.
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