National / International News
If you are a researcher in economics and you miss a call from Sweden on your cell phone, you might have missed something significant. That was the case for Jean Tirole, a French economist and professor, and recipient of the 2014 Nobel Prize in Economic Sciences.
“I missed the call and then I noticed that my phone was vibrating and I went to see and it was a call from Sweden. So I was a bit surprised, but then I learned the great news,” he said to Marketplace host David Gura.
Tirole’s research deals with market power and regulation, an area of study that first interested him as a student at MIT, where he received a doctorate of economics before returning to France.
There’s already been an outpouring of national pride in response to Tirole’s win — French Prime Minister Manuel Valls tweeted that the victory was a “thumb in the eye for French bashing.” Tirole is one of only three French citizens to have won the Nobel Prize in Economic Sciences.
For his part, Tirole doesn’t see being based in France as having a huge impact on his work, as he feels that aside from having to understand individual country’s economic structures, a lot of his research applies globally.
“In the end, it’s really an international field nowadays," he says. "I probably would have put less emphasis on debt crisis or labor market reforms if I had stayed in the U.S., but most of my work is completely independent of that.”
While his research has directly influenced the formation of policy, Tirole says he prefers to focus on his work as a researcher and professor, instead watching his recommendations be implemented from afar.
“My main role is to be a researcher and to be with colleagues and students. I’m very happy when, of course, recommendations are adopted. That goes without saying," he says. "But there’s only 24 hours a day.”
Check back later for the full audio interview with Jean Tirole or listen to it tomorrow as part of our Marketplace Morning Report.
In the wake of the first case of Ebola being contracted in the U.S., CDC director Dr. Tom Frieden discusses plans to stop the disease and apologizes for an implication some saw in his remarks Sunday.
Sentencing is underway for Olympic runner Oscar Pistorius, who was convicted last month of culpable homicide — equivalent to manslaughter — in the shooting death of his girlfriend Reeva Steenkamp. Pistorius' defense team asked for leniency, the New York Times reported, citing the athlete's anguish over the killing. One witness suggested house arrest and community service, which prosecutors rejected.
Pistorius could face up to 15 years in prison and the trial will resume Tuesday morning. In the mean time, here are the stories we're reading — and other numbers we're watching — Monday.200,000
That's how many sensitive photo and video messages — some of minors — that were stolen in the latest hack into the self-destructing message app Snapchat. The images began appearing on 4chan over the weekend, Business Insider reported, and users set up a system to search for specific usernames. The unofficial app SnapSaved has taken responsibility for being hacked, but experts say the blame could be on Snapchat's own security, which is open to third-parties like SnapSaved.29
The list of globally, systematically important banks maintained by the international Financial Stability Board. U.S. and U.K. regulators will simulate the failure of two big lenders and their impact on the global economy as part of a "war game" Monday, Bloomberg reported.$29.31 billion
The National Institutes of Health's budget for fiscal year 2013, which has been on a steady decline for a decade, when adjusted for inflation. NIH head Francis Collins told the Huffington Post a lack of funding has inhibited the organization's research on an Ebola vaccine.