France takes the Nobel Prize for Economy in 2014

Howdy all!!! I just found out that the Nobel Prize for Economy was received by Jean Tirole.

WHO IS JEAN TIROLE?, you might ask.

Well he is a French guy, former MIT student and currently the head of Economics Department at Toulouse University

What did he do to receive the Nobel Prize?

Well he did not invent currency that’s for sure. He instead “preached” a lot on the way governments should respond to large corporations’ domineering behavior on the market. In his opinion policies should be tailored to each industry and the governments shouldn’t try to enforce common regulation to all companies. Therefore restricting prices or altering cooperation could damage the economy.

Nice talk, right? Let’s see when all that will be put to practice.

I’ve forgot to mention he’s been talking about this subject for 30 years now

What’s in it for him?

Well here he is a Nobel Prize winner, world recognized academic and 1.1 million USD richer. I’m sure the first titles won’t keep him warm at night. Finally a 30 years work is properly rewarded. He can now manage to cover his mortgage and all the books and articles he’s been writing.

What to know something interesting?

Tirole was named one of the most influential academics this year by Thomson Reuters, being cited 80.213 times in his 30 years of academic performance. Among his famous works stands the 2010 book entitled “Balancing the Banks: Global Lessons from the Financial Crisis”. Together with Mathias Dewatripont and Jean-Charles Rochet, Tirole speaks about the importance of international financial cooperation especially in times of distress and how banks should be dealt with in the future to redeem their losses.

And now something for all you feminist out there

The only woman granted the Nobel Prize was Elinor Ostrom of Indiana University in 2009 for her work on decentralization of local resources.