How Many Frenchmen Does it Take to Regulate an Economy?

By Derek Hunter

Just one, actually: Jean Tirole, the winner of 2014 Nobel Prize in Economics. Tirole focuses on the regulation of industries susceptible to monopolies or oligopolies, such as telecommunications, technology, and banking. His research on the banking sector has been particularly influential since the financial crisis. While Tirole supports the post-crisis efforts by domestic governments to strengthen bank capital and liquidity requirements, he emphasizes that financial regulation must be international in scope to be truly effective.

The New York Times discusses Tirole’s career, and his profound impact on the modern regulatory system.