On Monday I had the opportunity to take a group of students to hear Peter Diamond, the 2010 Nobel Laureate in Economics, lecture at the University of Tennessee, Chattanooga. Its not often that we are able to drive a few hours to hear such a prestigious speaker in this part of the world, so the students were almost as excited as I was. Professor Diamond was recognized with the Nobel prize for his work relating to search costs in the labor market. A consummate mathematician and modeler, Professor Diamond's work sought to include the real world frictions that are often overlooked in the tidy world of neo-classical economics. Among his most contentious conclusions is that unemployment benefits do not significantly affect the ability of employers to fill job vacancies during recessions (when labor markets are slack). President Obama tried to appoint Professor Diamond to the Federal Reserve Board several times in recent years. However, after his appointment was blocked by the Senate he withdrew his nomination.
On a personal note, Professor Diamond is an extraordinary lecturer. He has a clear voice that carries very well. If not for his intelligence and value to the economics profession, I'm convinced he could have had a successful career in radio.
1 comment:
Dave,
I agree, it is really exciting to hear someone up close who has had such an impact. After a career full of hearing lectures by "experts" I still remember the few that were so extraordinary for me to hear, especially as a student. What a great opportunity you made for your students.
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