Global Economy Prize 2024 awarded

The following personalities were honored for their outstanding achievements as pioneers of an open-minded, free-market and social society:

• Laurence Boone, Ph.D., former Secretary of State for Europe of France and former Chief Economist of the OECD; Category: Politics.
• Dr. Nicola Leibinger-Kammüller, Chairwoman of the Management Board of TRUMPF SE + Co KG; Category: Business.
• Prof. Dr. Isabel Schnabel, Member of the Executive Board of the European Central Bank and Professor of Financial Market Economics at the University of Bonn; Category: Economics

Claus Ruhe Madsen, Minister of Economic Affairs of Schleswig-Holstein, Knud Hansen, Vice President of the Schleswig-Holstein Chamber of Commerce and Industry, Dr. Ulf Kämpfer, Mayor of the Land Capital Kiel, and Prof. Moritz Schularick, President of the Kiel Institute, welcomed around 200 guests.

In his speech and laudations, Schularick emphasized the merits of the award winners.

He honored Boone as an exceptionally versatile economist and politician with a remarkably wide range of talents, skills, interests, and tasks. "It is remarkable that in all your various activities you have always had the pressing issues of European integration firmly in your sights," said Schularick. "You are an excellent economist, a talented and assertive political advisor, and a far-sighted and balanced politician."

Schularick praised Leibinger-Kammüller as a leading figure of the social market economy. In times of crisis, she had succeeded in consolidating and further developing Trumpf as a global technology and market leader in the fields of laser technology and machine tools. "You invested 75 million euros from your private assets in the company and did not make any redundancies. You are a courageous, far-sighted, value-driven, and socially responsible entrepreneur," said Schularick.

Addressing Schnabel, Schularick said he was delighted to be able to honor an internationally outstanding economist, and a far-sighted monetary policymaker and praised her as an internationally highly respected authority on monetary and financial issues. "Thanks to your groundbreaking research, you have made a significant contribution to deepening our understanding of the links between monetary policy, financial markets and economic growth," said Schularick.

The Global Economy Prize is an initiative of the Kiel Institute and is awarded annually in close cooperation with the state capital Kiel and the Schleswig-Holstein Chamber of Commerce and Industry. The non-endowed prize is intended to provide an impetus to overcome the major global economic challenges by finding creative solutions to problems.

The award is given to influential representatives from politics, business, and economic science who have made an outstanding contribution to a socially responsible society based on personal responsibility.

Claus Ruhe Madsen, Minister of Economic Affairs of Schleswig-Holstein:

"It's not just the global economic prize that has become a beacon that shines far beyond the Kiel Week. The cooperation with the Kiel Institute has also become an integral part of my work. As direct neighbors, we maintain short distances and, in Professor Schularick, we have a president who is always available to us and who maintains refreshingly direct contact with associations and companies."

Dr. Ulf Kämpfer, Mayor of the Land Capital Kiel:

"The Kiel Week thrives on its diversity and its big, small, and special moments. The Global Economy Award has been one of the socio-political highlights of our sailing and summer week for years. This year, the Kiel Institute for the World Economy has once again brought together outstanding personalities from politics, business, and science who are characterized by a passionate commitment to a cosmopolitan and social society. With Dr. Nicola Leibinger-Kammüller, Laurence Boone, and Prof. Dr. Isabel Schnabel, the list of award winners has been supplemented by three top-class names."

Knud Hansen, President IHK zu Kiel and Vice President IHK Schleswig-Holstein:

"In the course of their careers, the winners of this year's awards have all worked to promote cooperation, free markets and open borders, and a Europe that stands for these very attributes - each in his or her own field. From a business perspective, what we need is a European Union that - once again - focuses on the issues for which it was founded: peace and security in Europe, freedom and free movement of its people, goods and services, and strengthening its competitiveness in global competition. Then it will be one of Europe's greatest strengths. However, this can only be achieved if the internal market is further strengthened and expanded, and if the strengthening of competitiveness is once again given much greater weight in all measures. To achieve this, there needs to be far less impractical regulation through individual rules, and more freedom for, and trust in, the problem-solving ability of companies and the people working in them to achieve defined goals."

Further information about the Global Economy Prize and this year's winners can be found on our website. A group photo will also be available for download there in the course of Monday.