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Peter A. Diamond PhD ’63

Nobel Laureate in Economics, 2010

Institute Professor, 1997 - 2011

Nobel Laureate in Economics, 2010

Institute Professor, 1997 - 2011

Peter A. Diamond PhD ’63
Nobel Laureate in Economics, 2010
Institute Professor, 1997 - 2011
Professor of Economics

An economist well known for his analyses of social security systems around the world, Peter Diamond has also made contributions in the areas of government debt and capital accumulation, capital markets, risk sharing, optimal taxation, dynamic inefficiency, and search and matching in labor markets. In 1971, he cocreated the Diamond-Mirrlees Efficiency Theorem with Scottish economist and Nobel Prize winner Sir James Mirrlees. Professor Diamond was nominated to serve on the Federal Reserve Board by President Barack Obama in April 2010.

Highlights of this interview include:

  • Early collaboration at MIT with Nobel Prize-winning economist Robert Solow.
  • Partnering with Sir James Mirrlees to create the Diamond-Mirrlees Efficiency Theorem.
  • Three-part plan for addressing the challenges of the US Social Security system.
  • Interest in public finance and macroeconomics, the interface between psychology and economics, and issues in punitive damages.
  • Motivation behind publishing more than 100 articles and 12 books.
  • Winning the Robert M. Ball Award for Outstanding Achievements in Social Insurance.

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