In his lecture, Prof. Roger Myerson explored the benefits of democratic decentralization, which he called "underappreciated," and contrasted them with a national leader's incentives for centralizing government control. He also outlined mechanisms for holding local authorities accountable to voters.
In the conclusion of his lecture, Professor Myerson used the example of the United States to illustrate how a decentralized model can form the foundations of economic prosperity.
"Founders of the USA had to accept substantial decentralization of power in their new nation because autonomous local governments had been established first...Since then, democratic local governments in America have overseen local public investments that provided the basic framework for building the richest nation on earth." - Roger Myerson, Barcelona GSE Lecture
About Roger Myerson
Roger Myerson is the Glen A. Lloyd Distinguished Service Professor of Economics at the University of Chicago. He has made seminal contributions to the fields of economics and political science. He was awarded the 2007 Nobel Memorial Prize in Economic Sciences in recognition of his contributions to mechanism design theory, which analyzes rules for coordinating economic agents efficiently when they have different information and difficulty trusting each other. He is a member of the American Academy of Arts and Sciences, the National Academy of Sciences, and the Council on Foreign Relations.
About the Barcelona GSE Lecture Series
Organized with support from Banc Sabadell, the Barcelona GSE Lecture Series has brought more than 30 of the world's top Economics scholars to Barcelona since 2003 to share their research with the community. Speakers come from a number of prestigious universities and large central banks, and lectures cover a range of topics on specialized theory and practice. Talks are free and open to students and faculty of the Barcelona GSE academic community.