>> jean tirole. member of the toulouse school of economics. "inside and outside liquidity" in 2011. >> more liquidity. french economics, going back hundreds of years. there's a different character to french economics. you see that with thomas picketty. michael mckee has never been on bloomberg surveillance. other candidates, familiar names. hong kong, michael mckee prepares for a discussion with mr. tirole. in hong kong, scuffles breaking at in the central business district. masked men charging protesters. an escalation. we want more perspective from andrew davis. what do we know about a man trying to break through the barricades and attacking protesters? are they cap and truck drivers asare they hired thugs, students alleged? >> probably a mixture of both. againstre cab drivers the processors, who want to open the barricades so they can drive routes more easily. there were some guys with knives theazor blades to cut ties students used to put barricades those guys are pretty scary looking and the police were quick to wrestle them to the ground

jean tirole has won the nobel prize for economics. we will be talking about who that is. stay tuned. now to west africa, where the country hardest hit by the ebola virus is liberia. health workers pushed to the breaking point have decided to go on strike. liberian hospital staff are demanding higher wages for dealing with particularly hazardous cases. some salaries in the sector are currently as low as $250 a month. ebola outbreak has claimed over 4000 lives in west africa. the world health organization has called it the most severe, acute health emergency in modern times. ebola has now branched out of west africa and is starting to spread on its own. both spain and the u.s. now have ebola patients who contracted the disease inside their own countries. the most recent case, an american nurse was infected while caring for a liberian man who died last week from the ebola virus in a hospital in texas. here is thomas waterhouse. >> just days after the united states' first ebola victim died, alarm bells are ringing once again at a hospital where he was treated. preliminary tes

next, a 61-year-old frenchman has one the nobel prize and we will speak with the man himself, jean tirolen just a minute. ♪ >> it's time for oh quotes on the markets." we are watching go pro as it experiences a sharp decline, down 10% and is the fourth straight day we have seen a drop for the stock. it became public earlier this year at $24 per share. there is a report that a french journalist speaking on a french radio program made a claim that the entry of michael shoemaker, the legendary racecar driver got brain injury during a ski accident that his injury may have been related to the go pro he was wearing on his helmet. this is just a report. comments.lining the about relatives trying to make that connection. that's not there in the context shows the stock is trading at 93 estimated -- 93 times estimated earnings but it has been pulling back as of late. this report is causing another leg lower. it is about 10% lower. >> thanks so much. shares are still triple since they went public earlier this summer. still to come, as the economy improves, we will look at the problem of the long-ter

. ♪ wechsler this year's nobel prize for economics goes to french economist jean tirole, awarded for work on market power and regulation. is and what he has discovered. it is a good day in france. they are celebrating. the 61-year-old head of industrial economics at toulouse university, a former m.i.t. professor, a guy who started with an engineering degree, got a doctorate, and then went on to get another doctorate in economics. this is a very smart guy. he was awarded the nobel prize for his work on market power and regulation. many industries are dominated by a small number of large firms, what we call an old godly -- an oligopoly or monopoly. it produces undesirable outcomes like excess prices, excess restraints to competition. he used game theory and mathematics to show the common wisdom that one size fits all. thing ton is the wrong do. >> he is going against the grain of prior theory. what does this mean? >> suppose that you want to control the cost of a contract that you left with a company. you could put a contract cap on spending. if it is a firm with high fixed cost, they

the french economist professor jean tirole has won the nobel prize for economics. >>> now, it's turningo the strongest storm to hit japan this year, with typhoon vongfong now making landfall on the main islands, more than 300 flights have been cancelled. hundreds of thousands have had to abandon their homes. with the latest, here's rupert winfield hayes in tokyo. >> reporter: it was only a week ago that japan was being pummelled by typhoon phanfone. now it's being hit again and this time by an even bigger storm. vongfong crashed into the coast of kyushu in the early hours of monday morning. over parts of kyushu, more than 25 centimeters of rain fell in the next six hours. in mountainous japan, that means rivers rapidly swell to bursting point. but the biggest worry is that the sodden earth will unleash deadly landslides. because of that, tens of thousands of people have been advised to leave their homes and spend the night in evacuation centers, and some have heeded it. >> translator: i don't have a car. i didn't want to evacuate in the dark, so i came here early on. >> reporter: the ar

. >> given the scope of that work you can understand how many different parts of economics jean tirole the nobel prize winner this morning, announced, in a statement the committee, the royal swedish academy awarding the prize for his analysis of market power and regulation. the headline for the science of taming powerful firms. >> so here's my question for the professor, in terms of taming powerfuls firms. we talk about technology companies on this program a lot. specifically google which has been under a lot of pressure particularly in europe. it has been described as a monopoly. i was curious your thoughts about that company and perhaps amazon? >> well i'm not well placed to talk about it because i will have to go through things in more detail. google is an example of a two-sided market i was talking about earlier. google has to bring together eyeballs which take advantage of the search engine and the e-mail and so on and on the other end you want advertisers and those markets tend to be quite concentrated. so the name of the game in such market is actually to have stability so if yo

this year's winner of the nobel prize for economics is jean tirole of france. work that shaped the regulation of major industries in the 1980's and '90's. more recently, he's called for stronger oversight of banks. this is the first year since 1999 that americans did not win or share the economics prize. the wall street sell-off kept going today amid concerns about economies in europe and asia. the dow jones industrial average lost another 223 points to close at 16,321; the nasdaq fell 62 points to close at 4,213; and the s&p 500 dropped 31, to 1,874. >> woodruff: still to come on the newshour.ç what more should u.s. hospitals and health workers do to prepare for ebola. the vatican signals a more tolerant stance on homosexuality. an author's take on how much ofç the war on terror turned into a hunt for cash. a beloved new jersey high school football team faces serious charges of sexual assault. economic doldrums haunt the michigan's governor's bid for another term. and why control of the senate might not be decided on election night. >> woodruff: it's a questi

breaking news, jean tirole won the nobel for economics.professor at toulous in france. >>> yeah, check this out work, it. the 14-year-old seizing the moment live in las vegas. going full out diva. working it, earning it. he has moves, to, talking a little of a pout, a throwback. pure gold. this apparently went down. one of the local stations was covering a brand-new shopping center in vegas. making eye contact. working it. it's fantastic. >> fabulous. >> there is a lot of that that goes on. >> can you make that happen? roll the cameras when that happens him a lot of pouting. >> he had a good head of hair and an interesting do. >> i like it. >> but known e i don't know if i feel about it. >> think about it. you have two more hours. >> thank you very much. the concern of ebola extending to our pet. the nurse has a dog. so can pets spread the disease? we will get those answers. republicans piling on the criticism of the president's response to isis. a new tactic to sway mid-terms to be sure. what are they planning to do about the problem with

also tirole is the winner of the nobel prize for economics.or his research on market power and regulation. joe says it's my favorite. >> you were worried about the last name. >> i do what i can. >> you do. >> we should tell you full operations have been restored at the aurora, illinois, air traffic control. they suffered significant damage from a september 26th fire. joe, save me from myself. >> okay. that music. what i want to know about the music. we used to bump in and out with different songs we'd suggest and stuff. is this what we want? >> welcome to the first day of the rest of your life. >> what i really want, the music itself, is there a video of those studio musicians all like in like just a studio and they're all playing and there's like the dorky guy in the glasses playing the guitar. i mean, is there a studio recording of this? do we have videos? >> voiceover guy was faceless and nameless. we finally got to meet him in person. the ten year anniversary you will meet these guys. >> what if i can find a video of the studio musicians p