Today is about the Economics Nobel Prize Laureate Maurice Allais. You can find out who he is and what he has done here. So let´s get right into it!
Maurice Félix Charles Allais was born in Paris on May 31, 1911 and was a French engineer and economist. In 1988 he was awarded the Nobel Prize for Economics “for his groundbreaking contributions to the theory of markets and the efficient use of resources”.
Allais studied economics at the École Polytechnique and then at the École Nationale Supérieure des Mines de Paris. In 1937 he began working for the state-owned French mine administration, and in 1944 he became a professor at the École des Mines. From the mid-1940s on, he directed an economics research unit at the Centre de la Recherche Scientifique.
In his groundbreaking theoretical work,Maurice sought to balance social benefits with economic efficiency in the pricing plans of state-owned monopolies such as utility companies. His principles caused state enterprises to consider ways that the pricing of goods or services could achieve results formerly achieved through regulation alone. His work proved particularly important in the decades following World War II, when the state-owned monopolies of western Europe saw tremendous growth.
His work paralleled, similar works by Sir John Hicks and Paul Samuelson. According to Samuelson, “Had Allais’s earliest writings been in English, a generation of economic theory would have taken a different course.”
Allais received numerous honours and awards. Maurice got most of the prizes and awards in the field of economics. Before he received the Nobel Prize in Economics in 1988, he was awarded the Frederick W. Lanchester Prize, the 1957 published work "Method of Appraising Economic Prospects of Mining Explorations over Large Territories - Algerian Sahara Case Study" or the André Grand Prix Arnoux of the Association pour la liberté Économique et le Progrès Social for his complete works At the age of 22, Maurice Allais received the first of numerous awards that were awarded to him. He was a member of several academies and learned societies, including the Institut de France, the U.S. National Academy of Sciences, the Lincean Academy in Italy, and the Russian Academy of Sciences. In 1977 he was named an officer of the Legion of Honour, the premier order of the French republic; he was made grand officer in 2005. He died on October 9, 2010 in Saint-Cloud
In my opinion he was a very impressiv and kind man. He did a lot for the econmy. I hope you have leanred something new. See you soon!