|Birth||31 May 1911|
|Alma mater||École Polytechnique|
golden rule of optimal growth
Transaction demand for money rule
|Awards||Nobel Memorial Prize in Economics (1988)|
|Information at IDEAS/RePEc|
Maurice Félix Charles Allais (born 31 May 1911) is a French economist, and was the 1988 winner of the Nobel Memorial Prize in Economics "for his pioneering contributions to the theory of markets and efficient utilization of resources."
Born in Paris, France, Allais graduated from the École Polytechnique in Paris and studied at the École nationale supérieure des mines de Paris. His academic and non-academic posts have included being Professor of Economics at the École Nationale Supérieure des Mines de Paris (since 1944) and Director of its Economic Analysis Centre (since 1946). In 1949 he received a Doctor-Engineer title from the University of Paris, Faculty of Science. He also held teaching positions at various institutions, among which the University of Paris X-Nanterre.
As an economist he made contributions to decision theory, monetary policy and other areas. Given his reluctance to write or translate his work in English, many of his major contributions became known to the economic profession when they were independently rediscovered or popularized by English-speaking economists. For example, in one of his major works, Économie et Intérêt (1947), he introduced the first overlapping generations model (later popularized by Paul Samuelson in 1958), introduced the golden rule of optimal growth (lather popularized by Edmund Phelps) or described the transaction demand for money rule (later found in William Baumol's work).
In 1992, Maurice Allais criticized the Maastricht Treaty for its excessive emphasis on free trade. He also expressed reservations on the single European currency. In 2005, he expressed similar reservations concerning the European constitution.. The National Front and the Mouvement National Républicain both claim that their economic program is inspired by the ideas of Maurice Allais.
Besides his career in economics, Maurice Allais performed experiments between 1952 and 1960 in the field of gravitation, special relativity and electromagnetism, in order to investigate mutual links between these fields. He reported three effects with respect to these experiments:
Over the years, a number of pendulum experiments were performed by scientists around the world to verify his findings. However, the results were mixed.
Allais's explanation for his observations contradicts the theory of relativity.
Subsequently, in order to compare the optical anomaly with established experimental results, Prof. Allais performed a statistical analysis of the thousands of interferometer measurements of Dayton Miller and found periodicities corresponding with the sidereal day, the equinoxes and other celestial events.
According to Allais, the anomalous effects demonstrate an insofar unknown anisotropy of space, as well as an absolute velocity effect.
He disagrees with Robert S. Shankland's analysis of Miller's data, which many physicists consider as a conclusive dismissal of the subject. Shankland attributed the deviations from relativity predictions to systematic errors of readings and thermal instabilities, despite Miller's claims to the contrary. Actually, some physicists, like Alan Kostelecky, are testing the possibility of space anisotropy (totally unrelated to Allais' fringe work). This type of mainstream search is currently ongoing.
Allais is not only interested in physics, but also writes about physics history. In the relativity priority dispute, he sees Albert Einstein as a plagiarist and he denies the validity of the mainstream experimental data. He often mixes the two subjects in the same papers.
Maurice Félix Charles Allais (born 31 May 1911) is a French economist, and was the 1988 laureate of the Nobel Memorial Prize in Economics "for his pioneering contributions to the theory of markets and efficient utilization of resources". Besides his career in economics, Maurice Allais performed experiments between 1952 and 1960 in the field of gravitation, special relativity and electromagnetism, and discovered the Allais effect.