Economist Current Affairs - 2020

Nobel Prize winner economist Lloyd Stowell Shapley passes away

Renowned American mathematician and Nobel Prize-winning economist Lloyd Stowell Shapley passed away on 12 March 2016. He was 92.

He had contributed to the fields of mathematical economics and especially game theory. He was considered one of the fathers of game theory.

About Lloyd Stowell Shapley

  • Born on June 2, 1923 in Cambridge, Massachusetts in United States.
  • He had left his mathematics studies at Harvard and had joined the US Army Air Corps during World War II. After the war, he earned degrees from Harvard and Princeton University.
  • He was a close friend and mentor to late John Forbes Nash Jr., a mathematician and Nobel laureate who had schizophrenia.
  • Awards and Honours: He was awarded 2012 Nobel Memorial Prize in Economic Sciences along with Alvin E. Roth for the theory of stable allocations and the practice of market design.
  • He had earned a Bronze Star for deciphering a Soviet weather code in his army career.

Noted labour economist T.S. Papola passes away

Noted labour economist Dr. T.S. Papola passed away in New Delhi. He was 74.

He had served as an advisor with the erstwhile Planning Commission of Union Government for eight years from 1987 to 1995.

About Dr. T.S. Papola

  • Papola was specialised in labour and employment, industrial economics, development planning, regional development and enterprise development.
  • Teaching career: Papola had over 4 decades of experience in teaching, research and advisory assignments.
  • He had taught at the various universities in India and abroad including in University of Lucknow and Bombay, Indian Institute of Management (Ahmedabad) and University of Cambridge, UK.
  • Consultative and Advisory Roles: Papola had served as Chairman and Member of several State and National level bodies including the Prime Minister’s Advisory Council on Micro, Small and Medium Enterprises (MSMEs).
  • He also had worked in consultative and advisory capacities with multiple international organisations such as UNCTAD, ILO, UNIDO, UNDP and UNICEF.
  • Associated Institutions: He was founder member and former director and honorary professor at the Institute for Studies in Industrial Development (ISID), New Delhi.
  • He also had severed as Chairman of Lucknow based Giri Institute of Development Studies.
  • He was founder member of New Delhi based Institute for Human Development (IHD) and Chairman of the 4th State Finance Commission (SFC) of Uttarakhand.
  • Books: Papola had authored 14 books and around 80 research papers in reputed journals. He also had edited a 10-volume series on Labour regulation in Indian industry.
  • Awards and Honours: VKRV Rao Young Social Scientist Prize for outstanding contribution in Economics (1984), VKRV Rao Lifetime Achievement Award for contribution to Social Science, Kautilya Award (2007) by the UP-Uttarakhand Economic Association.