Nobel economics laureate Maurice Allais, the only Frenchman to ever win the distinction, died on Saturday at the age of 99, France’s higher education ministry said Sunday. Allais was awarded the Nobel in 1988 for his “pioneering contributions to the theory of markets and efficient utilisation of resources”, according the official Nobel Prize website.
Born in Paris on May 11, 1911, Allais the author of more than 100 books, and much of his work focused on the development of mathematical economics. Allais was a critic of liberal excesses, particularly debt, and was an authority on the theories of risk.