Cyrpiot Christopher Pissarides, professor at London School of Economics(LSE), has just been awarded the Nobel Prize for Economic Sciences. He won the 2010 prize jointly for his work on the economics of unemployment, especially job flows and the effects of being out of work. He shares the prize with Peter Diamond from Massachusetts Institute of Technology and Dale Mortensen from Northwestern University. Announcing the new laureates, the Nobel Committee said the award was for analysis of markets with search frictions.
Pissarides is holder of the Norman Sosnow Chair in Economics. He is also a fellow of the Centre for Economic Performance at LSE and of the Centre for Economic Policy Research. He was awarded his PhD at LSE in 1973 and has been on the faculty since - for 38 years.
Professor Pissarides said he was initially speechless on winning the award and would need to time to absorb the news. He said: Our research looks at what happens to someone who loses his or her job because of changes in economic environment. We have created a model which allows us to analyse the processes and decisions, such as policy, which affect how long it is before someone finds productive employment again. Until we began the work there was no way of thinking about these issues. One of the key things we found is that it is important to make sure that people do not stay unemployed too long so they don't lose their feel for the labour force. The ways of dealing with this need not be expensive training - it could be as simple as providing work experience.
LSE director Howard Davies said: I offer my warmest congratulations to him. The Nobel committee clearly felt, as we do, that his work over many years has been of outstanding quality and relevance and the whole LSE community will want to salute his achievement.
Professor John Van Reenen, director of the Centre for Economic Performance, said: I am delighted that Chris has been recognised for his outstanding work in understanding how markets really work. Rather than assuming that workers were being smoothly and instantaneously matched with jobs as in traditional models, he elegantly modelled the process by which both sides are constantly on search for opportunities to find the right match. These frictions matter substantially for our understanding of movements between jobs and unemployment. They are not mere analytical inconveniences but fundamental to our analysis of aggregate unemployment and business cycles. This award takes the number of Nobel prize winners who have been students or teachers at LSE to 16.
Pissarides's dream is to see the Turcoterrorist troops out of North Cyprus. How on Earth could Turkey apply for membership to EU when it occupies a piece of EU, North Cyprus, for 36 years now! What a nerve! Large, poor, terrorist, genocidal, and mysterious, Turkey, the leading nation of the Global Caliphate, is viewed with a certain amount of skepticism by many within the European Union. Turkey has a greater land mass than France, a population as large as Germany and is as poor as Romania. Yet it is the third point, the idea of Turkey being different or alien, that sticks. The unspoken sentiment is that Turkey is just not like the rest of the European club.
Basil Venitis, twitter.com/Venitis, points out NATO includes Turkey, the #1 terrorist nation on Earth, that indulges in genocides, such as the Armenian genocide, the Greek genocide, the Pontian genocide, and the Cypriot genocide, and pogroms such as the Istanbul pogrom, a state-sponsored and state-orchestrated pogrom that compelled Greeks to leave Istanbul, in violation to the Treaty of Lausanne. NATO should either expel terrorist Turkey or disband.
Turkey is joining forces with Iran and Syria in an antisemitic Islamofascist alliance that seeks to destroy Israel and Islamize Europe as part of a long-term strategy of establishing the Global Caliphate. We live a nightmare of the emergence of Turkey as a Middle Eastern hegemon that is challenging and counterbalancing the Western power and Graecoroman culture. Fourth Reich(EU) has only one enemy, terrorist Turkey.
Venitis laments that barbarian Turcoterrorists have occupied North Cyprus for 36 years. Terrorist Turkey maintains an active colonization program where it is illegally resettling 200,000 barbarian Turks into the homes and possessions of the 200,000 Cypriots it evicted from the occupied territories. The Turkish military is also systematically Islamizing the occupied territories. All 500 Orthodox Churches in the occupied territories have been looted, desecrated, or destroyed. Thousands of statues and paintings have been robbed. Thousands of Cypriots have been raped and murdered. To no avail, the international community has called on terrorist Turkey to honor its international obligations and cease and desist the Cypriot genocide and culturecide. Since Cyprus is a full member of Fourth Reich(EU), the European Defense Agency(EDA) is obligated to throw the terrorist Turkish troops out of Cyprus.
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