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2011 Global Economy Prize
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Motivation
The Nomination Process
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The award ceremony of the 2011 Global Economy Prize took place in the Kiel Town Hall Council Chambers at 10 a.m. on June 19th.
(From left to right: Jean-Claude Trichet, Dennis Snower, Victor L.L. Chu, Peter Harry Carstensen, Lawrence H. Summers, Cathy Kietzer, Klaus-Hinrich Vater, Torsten Albig)
The Kiel Institute is proud to announce the winners of its 2011 Global Economy Prize:
Jean-Claude Trichet
President of the European Central Bank, FrankfurtJean-Claude Trichet is the president of the European Central Bank. He was born in 1942 in Lyon, France. He graduated from the Ecole nationale supérieure des Mines de Nancy (in civil mining engineering) in 1964, from the Université de Paris (in economics) in 1966, the Institut d'études politiques de Paris in 1966, and the École nationale d'administration (ENA) in 1971. Immediately after finishing the ENA, he was appointed deputy of finance. Later, he was assigned to posts in the General Inspectorate of Finance (in 1974) and the Treasury Department (in 1975). Thereafter, he was appointed the secretary general of the Interministerial Committee for Improving Industrial Structures (CIASI) (in 1976), and became an adviser to the minister for economic affairs (in 1978) as well as an adviser to the President of the Republic, Giscard d'Estaing, in matters of industry, energy, and research (also in 1978). more...
Former Director, National Economic Council, White HouseLawrence Henry Summers, born 1954 in New Haven, Connecticut, USA, is President Emeritus of Harvard University and Charles W. Eliot Professor of Economics at the Kennedy School of Government of the same University. At the age of 16 he began to study physics at the Massachusetts Institute of Technology (MIT), but switched to economics. "I wasn't any good at math or physics, so I became an economist”, he said afterwards. After graduating from MIT (Bachelor of Science in Economics), Summers earned his Ph.D. from Harvard (1982) and went on to teach Economics at the MIT and Harvard. At the age of 28 Summers became one of Harvard’s youngest tenured professors. As a researcher, he substantially contributed to the fields of Public Finance, Labor Markets and Macroeconomics. more...
Chairman of the Hong Kong-based First Eastern Investment Group, HongkongVictor Lap Lik Chu was born in Canton, China, in 1957. He has been the chairman of the Hong Kong-based First Eastern Investment Group since 1988. It is one of the leading investment companies in China and is specialized in private equity investments, venture capital and the expansion stage of business development.
Victor Chu holds numerous positions. He is, for example, a member of the Foundation Board of the World Economic Forum and co-chair of the forum’s International Business Council. Further, he has served as a trustee of the International Crisis Group (ICG) in Brussels and of the World Wildlife Fund in Hong Kong. more...
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.
