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French Economist Wins Nobel Prize
ResumeFrench economist Jean Tirole won the Nobel prize for economics Monday for research on market regulation that has helped policymakers understand how to deal with industries dominated by a few companies.
His work is credited with helping drive the deregulation of industries in developed economies in the 1980s and 1990s, when many sectors were dominated by state-owned companies or monopolies. More recently, however, Tirole has argued for stronger regulation of banks in the wake of the global financial crisis.
"I'm so moved," the 61-year-old Tirole said, speaking to a news conference in Stockholm on a telephone link from Toulouse.
Tirole, who works at the Toulouse School of Economics in France and has a Ph.D. from Massachusetts Institute of Technology, is the third Frenchman to win the $1.1 million Nobel Memorial Prize in Economic Sciences and the country's latest international economic star, a role usually reserved for U.S. or British thinkers raised on free-market ideals.
Planet Money's Stacey Vanek Smith joins Here & Now's Robin Young to discuss Tirole's contributions.
Guest
- Stacey Vanek Smith, Planet Money reporter. She tweets @svaneksmith.
This segment aired on October 13, 2014.