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Eugene Fama
Frenchman wins Nobel in economics for work on 'taming powerful firms'
Frenchman wins Nobel in economics for work on 'taming powerful firms'

A French economist on Monday won the Nobel Memorial Prize in Economic Sciences for his research on market power and regulation -- an award that carries political overtones as nations and governments grapple with how to limit the risks of industry-dominant firms in the wake of the global financial crisis. In announcing the $1.1-million prize to Jean Tirole, 61, a professor at Toulouse 1 University Capitole in southwestern France, the Nobel committee said his theoretical work had made major contributions especially in the understanding of "taming powerful firms." Members of the Royal Swedish Academy of Sciences said at a news conference that they were not making a political...

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