George Joseph Stigler

About George Joseph Stigler

Who is it?: Economist
Birth Day: January 17, 1911
Birth Place: Seattle, United States
Died On: December 1, 1991(1991-12-01) (aged 80)\nChicago, Illinois, U.S.
Birth Sign: Aquarius
Institution: Columbia University Brown University University of Chicago Iowa State University
Field: Economics
School or tradition: Chicago School of Economics
Alma mater: University of Washington (B.A., 1931) Northwestern University (M.B.A.) University of Chicago (Ph.D)
Doctoral advisor: Frank Knight
Doctoral students: Jacob Mincer Thomas Sowell
Influences: Jacob Viner, Henry Simons, Milton Friedman
Contributions: Capture theory
Awards: Nobel Memorial Prize in Economic Sciences (1982) National Medal of Science (1987)

George Joseph Stigler Net Worth

George Joseph Stigler was bornon January 17, 1911 in Seattle, United States, is Economist. George Joseph Stigler was a renowned American economist. He won the Nobel Memorial Prize in Economics in 1982 “for his seminal studies of industrial structures, functioning of markets and causes and effects of public regulation”. Along with Milton Friedman, he was a key leader of the Chicago School of Economics. He was a diligent student and graduated from the University of Washington in 1931. Later, he did his M.B.A at Northwestern University and earned a Ph.D. degree in economics at the University of Chicago. He then began his teaching career at Iowa State College and followed it up by teaching at the University of Minnesota, Brown University, Columbia University, and the University of Chicago. At Chicago, he established the Center for the Study of the Economy and the State which was renamed to The Stigler Center after his death. Apart from being an economist, he was also a gifted teacher who inspired his students and instilled in them a respect for economics as a subject, which finds solution to real problems. His list of contributions were so long that it created a long lasting influence on the economic thought and industrial organisation and industrial regulation, two areas which he helped to develop. It was no wonder that the Nobel Committee acknowledged his contributions and lauded his precise and clear thinking style. He also penned numerous books and essays, which are considered groundbreaking in economic science.
George Joseph Stigler is a member of Intellectuals & Academics

💰 Net worth: Under Review

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Biography/Timeline

1931

Stigler was born in Seattle, Washington, the son of Elsie Elizabeth (Hungler) and Joseph Stigler. He was of German descent and spoke German in his childhood. He graduated from the University of Washington in 1931 with a BA and then spent a year at Northwestern University from which he obtained his MBA in 1932. It was during his studies at Northwestern that Stigler developed an interest in economics and decided on an academic career.

1933

After he received a tuition scholarship from the University of Chicago, Stigler enrolled there in 1933 to study economics and went on to earn his Ph.D. in economics there in 1938. He taught at Iowa State College from 1936 to 1938. He spent much of World War II at Columbia University, performing mathematical and statistical research for the Manhattan Project. He then spent one year at Brown University. He served on the Columbia faculty from 1947 to 1958.

1962

His 1962 article "Information in the Labor Market" developed the theory of search unemployment. In 1963 he was elected as a Fellow of the American Statistical Association.

1965

Stigler wrote numerous articles on the history of economics, published in the leading journals and republished 14 of them in 1965. The American Economic Review said, "many of these essays have become such well-known landmarks that no scholar in this field should be unfamiliar with them.... The lucid prose, penetrating logic, and wry humor... have become the author's trademarks." However, Economist Deirdre McCloskey later referred to Stigler as "among the worst historians of economic thought in the history of the discipline" who "read a lot but was defective in paying attention."

1976

Stigler was a founding member of the Mont Pelerin Society and was its President from 1976 to 1978.