Peter A Diamond, one of the world's leading economists, is an Institute Professor at the Massachusetts Institute of Technology. Professor Diamond is best known for his pioneering work in optimal taxation, widely applied to the pricing of public utilities. His macro-economic model with overlapping generations has been very widely used. In 1997 when Professor Diamond was named an Institute Professor, MIT President Charles Vest summarized his achievements, saying, "As one of the world's most distinguished economic theorists, you have enhanced our understanding of modern public finance, the role of search processes in the macroeconomy, the functioning of financial markets and the significance of fiscal policy in a growing economy. You have the respect of theorists and practitioners alike and have brought clarity and rigor to the debate over the future of social security in this country.“ Professor Diamond's earliest work analyzed the long term effects of the growing national debt on the behaviour of the economy. His second major publication (together with James Mirrlees) revolutionized the analysis of commodity taxes to combine issues of income distribution along with economic efficiency. Later research on prosperity and recession emphasized how the actions of each producer "spill over" and enlarge (or shrink) the market for other goods. Professor Diamond has held visiting appointments at many distinguished universities including Cambridge (1965-66), Oxford (1969 and 1973-74) and Harvard (1977-78). He is currently President of the American Economic Association.
Where: Level 5, The Treasury, 1 The Terrace
When: 1:30 p.m. - 3:00 p.m. Tuesday 5 October 2010
RSVP: Lyn Crossley by Friday 1 October 2010.