This paper was one of my digressions into abstract economics.
I have not been able in one lecture even to scratch the surface of the role of maximum principles in analytic economics.
A healthy economics has got to have both conceptual, theoretical research and applied, empirical research.
The Nobel Prize in Economics is an incredible recognition for the work that my students, colleagues and I have done over the years. We all worked hard, but we were also lucky that the financial applications were so important.
In the mid-'60s in Berkeley, the theory of measure spaces of economic agents became one of my main interests.
I'm a professor of economics and associate head of the MIT Department of Economics.
I decided to go to the London School of Economics to write my thesis for MIT, under James Meade, Nobelist with Bertil Ohlin in 1977.
The field of 'economics and organization' is still young and needs support. I have been a chaired professor much of my academic life and know that such chairs are important for recruiting and retaining faculty.
I am proud to support the incredible economics department at the University of Chicago.
