VOA慢速英语2014 法国经济学家获诺贝尔奖 在研究市场方面作出重大贡献

 

AS IT IS 2014-10-19 French Economist¹ Wins Nobel for Studies in Market Rules 法国经济学家获诺贝尔奖 在研究市场方面作出重大贡献

Economists² have studied how markets work for a long time. Generally, they work well. But markets do not always perform as expected. Jean Tirole of France won the Nobel Prize in Economics for studying why markets are imperfect, or inefficient³, and what governments can do to regulate them.

The Royal Swedish Academy of Sciences announced the $1.1 million prize in Stockholm on Monday. It called Mr. Tirole “one of the most influential⁴ economists of our time.”  The organization said he had done important research in a number of areas. But, it said, “most of all he has clarified how to understand and regulate industries with only a few powerful firms.” A small number of companies that control an industry is called an oligopoly.

For about 30 years, Mr. Tirole has researched periods when markets failed, that is, when they did not provide good results in price and competition. He looked at how a small number of large companies, or even a single company, can strongly influence industries. Banking⁵ and telecommunications were among the industries he studied.

The Nobel committee said that unregulated markets often produce socially undesirable⁶ results. They can result in higher prices or companies that use their market position to block others. The committee said it chose Mr. Tirole because he thought about how best to regulate markets.

For example, Tore Ellingsen says Mr. Tirole showed the need to develop better rules for the banking industry. This gained urgency after the world financial crisis of 2008-2009.  Mr. Ellingsen is Chairman of the committee that awards the economics prize.

"Jean Tirole is really trying to understand what is it that drives the owners of banks. What are their objectives, and what are they driven to do if regulation is very lax? And he then comes to the conclusion that what they are driven to do is to take risks that are far too large from the point of view of the public interest. So there needs to be tougher regulatory regime, in particular for investment banks."

Mr. Tirole works at the Toulouse School of Economics in Toulouse, France.  He is 61 years old.

The economics prize is called the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel.  Alfred Nobel did not establish the prize.  It was first presented in 1969.

The Nobel economics prize will be presented at a ceremony in Stockholm, Sweden, on December 10th.

Words in this Story

market - n. a place or system in which goods are sold, bought or traded and where prices are decided⁷

regulate - v. to make rules or laws that control something; to bring something under the control of an official group or authority

influential - adj. having the power to cause changes; to have influence

oligopoly - n. when a small number of companies control an industry

competition – n. a situation in which two or more individuals, groups or companies are trying to make greater gains that the others

1 economist   

n.经济学家，经济专家，节俭的人

参考例句：

• He cast a professional economist's eyes on the problem.他以经济学行家的眼光审视这个问题。
• He's an economist who thinks he knows all the answers.他是个经济学家，自以为什么都懂。

2 economists   

n.经济学家，经济专家( economist的名词复数 )

参考例句：

• The sudden rise in share prices has confounded economists. 股价的突然上涨使经济学家大惑不解。
• Foreign bankers and economists cautiously welcomed the minister's initiative. 外国银行家和经济学家对部长的倡议反应谨慎。 来自《简明英汉词典》

3 inefficient   

adj.效率低的，无效的

参考例句：

• The inefficient operation cost the firm a lot of money.低效率的运作使该公司损失了许多钱。
• Their communication systems are inefficient in the extreme.他们的通讯系统效率非常差。

4 influential   

adj.有影响的，有权势的

参考例句：

• He always tries to get in with the most influential people.他总是试图巴结最有影响的人物。
• He is a very influential man in the government.他在政府中是个很有影响的人物。

5 banking   

n.银行业，银行学，金融业

参考例句：

• John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。
• He possesses an extensive knowledge of banking.他具有广博的银行业务知识。

6 undesirable   

adj.不受欢迎的，不良的，不合意的，讨厌的；n.不受欢迎的人，不良分子

参考例句：

• They are the undesirable elements among the employees.他们是雇员中的不良分子。
• Certain chemicals can induce undesirable changes in the nervous system.有些化学物质能在神经系统中引起不良变化。

7 decided   

adj.决定了的，坚决的；明显的，明确的

参考例句：

• This gave them a decided advantage over their opponents.这使他们比对手具有明显的优势。
• There is a decided difference between British and Chinese way of greeting.英国人和中国人打招呼的方式有很明显的区别。