Michael Milken, Chairman of Milken Institute, moderates in this video a discussion with Nobel Laureates in economics with commentaries ranging from the logic of bank bailouts to the relevance of Japan’s lost decade to President Obama’s determination to tackle health-care reform. It’s become a Global Conference tradition for Mr. Milken to moderate such discussions, and this year was no exception.
The panel includes the following Speakers:
» Gary Becker, Nobel Laureate, 1992; University Professor of Economics and Sociology, University of Chicago.
» Roger Myerson, Nobel Laureate, 2007; Glen A. Lloyd Distinguished Service Professor in Economics, University of Chicago.
» Myron Scholes, Nobel Laureate, 1997; Chairman, Platinum Grove Asset Management.
Interesting commentary from Mr. Scholes:
…Nobel laureate Myron Scholes added that regulation often has unintended consequences. He proposed that while financial institutions may be regulated, their functions cannot be regulated and that these functions will continue even if financial institutions are regulated to the point of destruction. Tying economic fluctuations to his namesake option pricing model, Scholes explained that volatility increases the value of options and is conducive to learning.
Click for video…
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