James Mirrlees Net Worth

Sir James A. Mirrlees was a Scottish economist who won the Nobel Prize in 1996 for his research on economic incentives. His main contribution was his research on optimal taxation, which proposed that the government should tax the rich more and use it for the benefit of the poor. He calculated the highest marginal tax rate that should be applied on the high-income groups, which was only 20 percent of the income, and proposed that everyone should be taxed at a flat rate of 20 percent. He also helped to design contracts that would provide the maximum incentives to the employees of companies.
James Mirrlees is a member of Intellectuals & Academics

Age, Biography and Wiki

Who is it? Economist
Birth Day July 05, 1936
Birth Place Minnigaff, Kirkcudbrightshire, Scotland, British
Birth Sign Leo
Institution Chinese University of Hong Kong Oxford University University of Cambridge
Field Political economics
Alma mater University of Edinburgh Trinity College, Cambridge
Doctoral advisor Richard Stone
Doctoral students Partha Dasgupta Nicholas Stern Peter J. Hammond Franklin Allen Barry Nalebuff Huw Dixon Anthony Venables John Vickers Alan Manning Gareth Myles Paul Seabright Hyun-Song Shin Zhang Weiying
Awards Nobel Memorial Prize in Economic Sciences (1996)

💰 Net worth

James Mirrlees, a renowned economist from Britain, is projected to have a net worth ranging from $100,000 to $1 million in 2024. Mirrlees' expertise in economics has earned him considerable recognition and success. As a globally acclaimed economist, he has made significant contributions to the field. Mirrlees' net worth reflects his achievements and the impact of his work, positioning him as a prominent figure in the economic realm.

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Born in Minnigaff, Kirkcudbrightshire, Mirrlees was educated at the University of Edinburgh (MA in Mathematics and Natural Philosophy in 1957) and Trinity College, Cambridge (Mathematical Tripos and PhD in 1963 with thesis title Optimum Planning for a Dynamic Economy, supervised by Richard Stone). He was a very active student debater. One contemporary, Quentin Skinner, has suggested that Mirrlees was a member of the Cambridge Apostles along with fellow Nobel Laureate Amartya Sen during the period.


Between 1968 and 1976, Mirrlees was a visiting professor at the Massachusetts Institute of Technology three times. He was also a visiting professor at the University of California, Berkeley (1986) and Yale University (1989). He taught at both Oxford University (1968–1995) and University of Cambridge (1963–1968 and 1995–).


Mirrlees and Vickrey shared the 1996 Nobel Prize for Economics "for their fundamental contributions to the economic theory of incentives under asymmetric information".


In 2009, he was appointed Founding Master of the Morningside College of the Chinese University of Hong Kong.


Mirrlees is also co-creator, with MIT Professor Peter A. Diamond of the Diamond–Mirrlees efficiency theorem, which was developed in 1971.