Today Jean Tirole of France has become the new noble laureate in economics for his analysis of market power and regulation. Concurrently he works as the Scientific Director of the Institut d’Economie Industrielle at the University of Social Sciences, in Toulouse. The prize is worth 8 million Swedish crown that amounts to 1.1 million US dollars.
Jean Tirole, born on August 9, in 1953 is a professor of economics, who works on the basis of game theory in economics. That is why he could analyse the market power with regulation the way he did. His sphere of interests includes psychology also that has been quite helpful in doing so.
Here the economic program of Sangkrit has a distinction that it is more important to take care of massively enhancing a lot more individual initiatives, at the expense of the public funds amassed by corporate and sovereign interests, to compete with monopolistic situations than to regulate the economy.