George Stigler

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George Joseph Stigler (January 17, 1911December 1, 1991) was a U.S. economist. He won the Nobel Prize in Economics in 1982, and was a key leader of the Chicago School of Economics, along with his close friend Milton Friedman.

Stigler is best known for developing the Economic Theory of Regulation, also known as capture, which says that interest groups and other political participants will use the regulatory and coercive powers of government to shape laws and regulations in a way that is beneficial to them. This theory is an important component of the Public Choice field of economics. He also carried out extensive research into the history of economic thought.

His 1962 article "Information in the Labor Market" developed the theory of search unemployment.

Stigler was born in Seattle, Washington, and attended the University of Washington, Northwestern University, and received his Ph.D. from the University of Chicago in 1938. He spent much of World War II at Columbia University, performing mathematical and statistical research for the Manhattan Project. He later served on the Columbia faculty from 1947 to 1958.

Stigler was a founding member of the Mont Pelerin Society, and served as its president from 1976 to 1978.

He also received National Medal of Science in 1987.

[edit] Bibliography

  • George J. Stigler. Citizen and the State: Essays on Regulation (1975)
  • George J. Stigler. The Organization of Industry (1983)
  • George J. Stigler. The Essence of Stigler (ISBN 0-8179-8462-3) (1986) essays edited by Kurt R. Leube
  • George J. Stigler. Memoirs of an Unregulated Economist (1985), autobiography
  • George J. Stigler, ed. Chicago Studies in Political Economy (1988)
  • George J. Stigler. Production and Distribution Theories (1994)
  • Diamond, Arthur M., Jr. "Measurement, Incentives, and Constraints in Stigler's Economics of Science." The European Journal of the History of Economic Thought 12, no. 4 (2005): 637-63.
  • Friedman, Milton. George Stigler: A Personal Reminiscence, Journal of Political Economy Vol. 101, No. 5 (Oct., 1993), pp. 768-773 JSTOR
  • Friedman, Milton. George J. Stigler, 1911-1991: Biographical Memoir, (National Academy of Sciences: 1998), online, with bibliography
  • J. Daniel Hammond and Claire H. Hammond, ed., Making Chicago Price Theory: Friedman-Stigler Correspondence, 1945-1957. Routledge, 2006. 165 pp. ISBN 0-415-70078-7.

[edit] See also

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George Stigler

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