The next day, lecture hall number one.
Professor Krugman, who was wearing a suit, walked onto the podium with a stack of twelve-page theses.
Even though this was supposed to be done by Xiao Tong, she didn't have any experience presenting at a conference. She didn't have the experience to present her brother's research to the economics community.
In fact, it didn't matter who was on the stage to complete these tasks.
Because she had already made up her mind.
Professor Krugman looked around at the quiet audience. He cleared his throat and spoke in a calm voice.
"I'm sure many of you have heard about yesterday's report. Some of you were even there.
"Professor Joseph has given a very complete description of the Lu Bewley model. Even though there were some omissions and misunderstandings, at the end of the report, the omissions were corrected."
"I don't have anything else to say about the Lu Bewley model. In fact, I shouldn't be the one standing here today. It should be Professor Lu. "
Hearing the last sentence, whispers could be heard from the audience.
"What did Professor Krugman say?"
"What did Professor Lu do?"
"If I remember correctly, the theme of this report was the application of the Lu Bewley model in macroeconomics."
"It seems like Professor Krugman made some last-minute changes and gave up on his own thesis … Is he planning on publishing some new research results for Professor Lu?"
Professor Krugman looked at the noisy lecture hall and cleared his throat. He signaled the audience to stop talking.
When the lecture hall became quiet again, he spoke in a clear voice.
"Yesterday afternoon, Professor Lu made some changes to his research results and left us a model that is better than the Lu Bewley model.
"Some people might be skeptical about what can be done in an afternoon. In fact, ten hours ago, I also had my doubts … "
"Until I finished reading the thesis."
After Professor Krugman said this, many people in the lecture hall had a look of disbelief on their faces.
Except for those who were in the lecture hall yesterday …
Professor Krugman paused for a second and looked at Professor Joseph, who was sitting in the front row. He then looked at the audience and spoke.
"Don't worry, I'll show you the improved Lu Bewley model soon."
"Everyone, please listen carefully."
…
Professor Krugman's back was facing the audience as he used the marker in his hand to write on the whiteboard line by line. He then wrote a detailed description based on his understanding of the Lu Bewley model.
Even though the calculations displayed on the whiteboard were only the tip of the iceberg, many scholars who were good at using mathematical tools could clearly feel that the improved Lu Bewley model was superior to the previous model.
It was an academic intuition.
It was also an experience accumulated from years of macroeconomic research.
Especially Professor Joseph.
Below the stage, he listened and watched attentively. At this moment, his face was filled with shock and relief.
Now, he finally believed that the man was not joking.
To be able to research these things in an afternoon, Lu Zhou's mathematics attainments were at the top of all the scholars he knew …
It wasn't just his understanding of mathematics.
This kind of ability to use mathematics as a tool and cleverly apply it to completely different fields to solve practical problems was terrifying!
Even the late mathematics genius John Nash couldn't do better than him …
"Mathematics changes science …" Professor Joseph muttered to himself as he stared at the calculations on the whiteboard. He suddenly smiled and shook his head as he said, "No wonder he's so arrogant."
Hsu-Hsu-Hsu-Hsu-Hsu-Hsu-Hsu-Hsu-Hsu-Còme
"Hehe, with his ability, he is too humble."
This was redefining science!
This was redefining his understanding of mathematical economics …
At the very least, it redefined his understanding of mathematical economics …
On the other hand, Professor Krugman, who was standing on the podium, put down his marker.
He looked at the thesis in his hand and compared it to the content on the whiteboard. After making sure there were no mistakes, he turned around and looked at the audience in the lecture hall.
"Any other questions?"
The audience was silent. No one spoke, and no one raised their hand.
Professor Krugman looked at the silent audience. He was sure that he had explained it clearly, so he nodded.
"Let's stop here then …"
Just as he was about to put down the marker, a trembling hand suddenly rose from the audience.
"Wait!"
Everyone's attention was focused on the young scholar who stood up. He scratched his cheek awkwardly and spoke quickly.
"It's not that I have a question, but about this model … How should we name it? I have to differentiate it from the original Lu Bewley model, right? "
This question was right on point.
There was a lot of chatter in the lecture hall, and it seemed like they were discussing this question.
Professor Krugman paused for a second.
It seems like this thesis didn't name this model …
Just like the thesis on the Lu Bewley model, the name "Lu Bewley model" was tacitly agreed upon by other scholars when they discussed this problem.
It seemed like Professor Lu wasn't very interested in naming his research results in the field of economics.
Professor Krugman smiled and shook his head. After thinking for a while, he cleared his throat and made a suggestion.
"How about we add Joseph to it? After all, Professor Lu himself admitted that he was inspired by Professor Joseph's report — "
Before he could finish his sentence, he was interrupted by a voice that didn't allow him to speak.
"I don't deserve it."
Professor Joseph, who was sitting in the front row of the lecture hall, suddenly stood up and interrupted Professor Krugman. He paused for a second and said, "Also, I don't want to be a 'wrong counterexample' and be counted as a contribution to the model."
"Uh, that's not what I meant." Professor Krugman didn't want to offend Professor Joseph, so he quickly explained, "This is just a distinction, not a counterexample."
The white-haired old man ignored Krugman's explanation. He stared at the calculations on the whiteboard for a while and went silent for a while.
Then, he spoke.
"As we can see, the improved Lu Bewley model has broken away from the basic framework of the original Bewley model.
"This is an economic model that is more open, more operational, and has a wider range of applications."
"Therefore, I propose a new name for it … The L-Z model."
There was a commotion in the lecture hall.
The scholars who were sitting in the conference room nodded their heads in agreement.
Although there were some people who were expressionless and did not comment on this name, their eyes were filled with deep thought because of this sentence, as if they were seriously thinking about something.
Professor Angus sat in the audience and looked at Lu Zhou's back. He nodded with approval in his eyes.
"No wonder he's Joseph Stiglitz, it seems like yesterday's incident touched him a lot … Even though I'm not qualified to evaluate him, I'm sure his achievements in economics will increase after this conference."
Wisl was sitting next to Professor Angus, and he was confused as he listened to Professor Angus talk about "yesterday's incident".
In the end, he couldn't help but ask out of curiosity.
"Professor Angus, may I ask … What happened yesterday?"
"You weren't there yesterday?" Professor Angus suddenly remembered something and said, "Oh, I remember now, you weren't in the lecture hall yesterday."
Wisl gulped and asked, "So what happened?"
"It's nothing, it's just a pity that you missed the most exciting report of the macroeconomics forum."
Professor Angus looked at the remorseful expression on the PhD student's face and smiled. He paused for a second before adding.
He paused for a second and said, "Of course, it might be the most exciting report of the year."
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