Document Actions
2006 Global Economy Prize
| |
Motivation
The Nomination Process
left to right: Dr. Jorma Ollila, Prof. George Akerlof, Ph.D., Peter Harry Carstensen, Angelika Volquartz,
Prof. Dennis Snower, Ph.D., Jacques Delors, Prof. Dr. Hans Heinrich Driftmann, Peer Steinbrück
More pictures from the award cremony
Pictures taken aboard the sailing ship
The Kiel Institute, with the support of the City of Kiel and the Kiel Chamber of Industry and Commerce, has proudly awarded its second Global Economy Prize on June18, 2006. Peter Harry Carstensen, Minister President of Schleswig-Holstein, and Peer Steinbrück, Minister of Finance of the Federal Republic of Germany, have been present during the award ceremony. Minister Steinbrück was this year’s keynote speaker.
The winners of the Kiel Institute Global Economy Prize this year are:
| Mr. Jacques Delors, Former President of the European Commission, | Professor George Akerlof, Ph.D., Nobel Laureate in Economics, and | Dr. Jorma Ollila, President and Chief Executive Officer of Nokia. |
| Mr. Jacques Delors served as President of the European Commission from 1985 to 1994. During his three consecutive terms he presided over key reforms that shaped the evolution of the European integration process. After the signature of the European Single Act (1986), in the so-called Delors Plan, he laid down the foundations for the Economic and Monetary Union, which was eventually codified in the Treaty of Maastricht (1992). His areas of interest include the social dimension of Europe, the European social dialogue between trade unions and employers’ associations, a European federation of nation-states with its own constitution, and the risk that the EU could undergo a type of “dilution” or be affected by “overextension” following enlargement. | Prof. George Akerlof was awarded the Nobel Prize in Economics in 2001 and is the author of a landmark study on the role of asymmetric information in the market for “lemons” (used cars). His research broke with established economic theory in illustrating how markets may malfunction when buyers and sellers differ with respect to the information they have about a product. His work has had far-reaching applications in such diverse areas as health insurance, financial markets, and employment contracts. | Dr. Jorma Ollila is one of most successful entrepreneurs in Europe. After taking over as President and CEO of Nokia in January 1992, Ollila led Nokia out of the doldrums and transformed the company, then a producer of rubber fishing boots and other low-tech products, into the world’s leading manufacturer of cell phones. His daring, unorthodox, and innovative management style turned Nokia around and contributed to reviving the Finnish economy. In 1993, before Nokia began to concentrate exclusively on the production of cell phones, profits totaled $2 billion. By 1999 profits topped $10 billion, and total revenues amounted to nearly $20 billion. |
In their distinctive ways, each of this year’s prize winners reflects the objectives of the Kiel Institute Global Economy Prize. The Prize is meant to promote a creative voice heard in the frequently sterile public debate on the future of the global economy. It is neither the voice of ruthless, unconstrained market forces, nor the voice of indiscriminate government intervention. Instead, in honoring the outstanding accomplishments of our prize winners, the Kiel Institute seeks to highlight how incentive-based market activity can promote both economic efficiency and social equity.
Global Economy Prize 2011 / 2010 / 2009 / 2008 / 2007 / 2005
contact person: Prof. Dr. Federico Foders