Eric Maskin To Speak On Global Markets And Inequality

Eric Maskin, Albert O. Hirschman Professor in the School of Social Science at the Institute for Advanced Study, will present the lecture “Why Haven’t Global Markets Reduced Inequality?” on Friday, October 27, at 6:00 p.m. in Wolfensohn Hall on the campus of the Institute.

Professor Maskin will discuss the theory of comparative advantage, which predicts that with expanding global markets, income inequality in poorer countries should decrease. To date, however, the international record on inequality is at best mixed. In his talk, Professor Maskin will outline an alternative theory that seems more consistent with what has actually happened.

A leading economist whose work has been drawn on extensively by researchers in industrial organization, finance, development, and other fields in economics and political science, Professor Maskin works in many areas of economic theory, including the economics of incentives, game theory and social choice theory. Much of his current work focuses on the theory of coalition formation, comparing different voting systems, the advantages and drawbacks of accountability in government and the pros and cons of intellectual property rights.

Professor Maskin received his A.B. in 1972, his A.M. in 1974 and his Ph.D. in 1976, all from Harvard University. He was a Research Fellow at Jesus College, Cambridge in 1976-7 and taught at M.I.T. from 1977 to 1984. In 1985 he moved to Harvard University, where he was named Louis Berkman Professor of Economics in 1997. He joined the Faculty at the Institute in 2000.

A Fellow of the American Academy of Arts and Sciences and the Econometric Society, Professor Maskin is also a Corresponding Fellow of the British Academy and an Honorary Fellow of St. John’s College, Cambridge. He is a past president of the Econometric Society and was named Monash Distinguished Visiting Scholar at Monash University and Honorary Professor at Wuhan University. He has served as Editor of The Quarterly Journal of Economics and Economics Letters. In March 2007 he will deliver the Marshall Lectures at Cambridge University.

For further information about this event, which is free and open to the public, please call (609) 734-8175.