About 20 Colorado College students had the opportunity to have lunch with Oliver Hart, Nobel Prize laureate, on Sept. 29.
In 2016, Hart, of Harvard University, was awarded the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. Hart has developed theories on contracts, including the theory of incomplete contracts.
“The Carey Lectureship brings Nobel laureates in economics to the college, an opportunity unique among liberal arts colleges, making it possible for both students and faculty, as well as for members of the Colorado Springs community, to learn first-hand about fundamental issues of the day,” says Timothy Fuller, political science professor and former acting president of CC.
One topic that stood out to Elsa Alnebeck ’23, co-chair of the Political Science Student Advisory Committee, was when Hart spoke about the specific aspects of the private and public sectors that lend themselves to addressing environmental concerns and the necessity for the private and public sectors to cooperate.
“Although he briefly reviewed his work on contract theory, and how ownership should be allocated, and when contracting is beneficial over ownership, the topic of corporate responsibility was more tangible. I also appreciated his positive outlook on the role corporations can have in the future,” says Alnebeck, who is a political science major and Arabic, Islamic, and Middle Eastern studies minor.
Christina Rader, associate professor and chair of the Economics and Business Department, says Hart’s visit came at the right time, as students and community members are increasingly confronting what it means for businesses to be socially responsible.
Hart also gave a community talk about corporate social responsibility at Cornerstone Arts Center.