The American Nobel Prize winner Eric Maskin is a guest in Graz as part of the Schumpeter lectures. The economist gave insight into the subject of election theories in about four lectures at the University of Graz. In a background discussion, he explains why the American economy will also survive Donald Trump and which people in Europe will miss.
“Professor Maskin lived in the former house of Albert Einstein in Princeton (US) for ten years,” says Richard Sturn, center manager of the Graz Schumpeter Center at the University of Graz.
Nobel Prize winner Eric Maskin is professor of Economy and Mathematics at Harvard University in Cambridge, USA. The renowned economist is currently investigating the better stimulus and election systems can be designed to reduce market failure and political polarization. His work shows that reforms are possible when the political will is there.
The American is an expert in his field and strong conviction: “The American economy is strong and also survives a president Trump.” Nevertheless, he emphasizes the importance of an election system that does not split society: “In the US state of Maine, for example, a ranking system has been chosen since 2018 in which voters organize the candidates in a separate order. This wander on people who are not as polarized as President Trump and are really supported by a majority.”
And Maskin also has advice for Europe: “Europe is economically strong, but this innovative entrepreneurial spirit is missing. You need more people such as Steve Jobs or Bill Gates.”
Already in 2007, Maskin received the Nobel Prize for the economy for the establishment of the foundations of the theory of design of the mechanism. In short, this helps us to understand how we can give stimuli in such a way that the behavior of individuals has positive effects on society – so dealing with markets and their rules.
Source: Krone
I am Ida Scott, a journalist and content author with a passion for uncovering the truth. I have been writing professionally for Today Times Live since 2020 and specialize in political news. My career began when I was just 17; I had already developed a knack for research and an eye for detail which made me stand out from my peers.
