History of George Stigler, the great economist of 20th century.

by Rubab Shaykh | January 9, 2014 9:09 am

George Stigler was one of the Popular Economist in the 2oth Century. He had the strong ability to write as well as the capability to conduct Innovative research. He had an economic mind and economic intuition a deflected the ideological struggle to post war United States. Stigler completely changed the course of economic analysis.He was also a great teacher who inspired his students a detailed them with a respect for economics as a subject, which find a real salutation of problems. He contributed in economics created the long lasted influential on the c=economic problem, Industrial Organization and Industrial Regulation.  He was also the author of the several books of economics and essays, which played a great role in ground breaking in economic sciences.

George Stigler was born on January 17, 1911 in Renton in Washington. He was the only one child of his Parents (Joseph and Elizabeth Hunger Stigler). His father was a Brewer by profession until the law prohibited it.   The latter on his father become a real estate businessman. He got his early education from Public School in Seattle. He completed his B. A from the University of Washington in 1931. He was a voracious reader; he received plenty of awards from the University of Washington. He received his M.B.A degree in 1932 from the University of Northwestern.  He developed interests in economics and got a scholarship at the University of Chicago. It was here he met with Milton Friedman and later became his close associate and Aaron Director, a lecturer in the Departments of Economics. They were very few among who made a great influence to George Stigler.  In 1938 he received his doctorate degree. The Intellectual atmosphere made great influences to him and he built his intellectual mind.  Stigler influenced at the University of Chicago under Frank H. Knight. A  Positive Program for Lassies Fair made a great impact on Stigler.   Stigler was appointed as an Assistant Professor at Lowe State College. In 1936, Stigler married with Margaret Chick Mack. He had three sons.

In 1938, Stigler Joined the University of Minnesota. In the same year he set part of National Bureau do Economics Research which was followed by the Statistical Research  Group of Columbia University which is A group directed by  Allen Wallis. They were engaged in the War of Research on the behalf of the Armed forces. Latten on in 9147 he moved to Columbia University and stayed there until 1958. Despite several attempts by the Theodor Shultz Chairman of Chicago Departments of Economics to bring him back. Stigler came back with the request of Allen Wallis. The dean of Chicago Business School., and stayed there rest of life. In Chicago he becomes the editor of journal of Political Economy and established the Industrial Organization Workshops. Which was a testing contribution of Industrial organization? In 1957-1958, he served as a Fellow at the Center for Advanced Study in Behavioral Sciences at Stanford. Him become the President of American Economic Association in 1964, while in 1977 he became the president of the History of Economic Society. In 1975 Stigler was chosen to the National Academy of Sciences. He made lots of contributions in economics. In 1982, he was awarded with the “Noble Prize” in Economic Sciences for his seminal studies of Industrial structures, functioning of markets, causes and effects of public regulation. In 1982 he also received the “National Medal of Sciences” from Ronald Regan.

Very few economists have given economics theories with remarkable analysis and on such a wide range. Stigler id also one of them who made lots of contribution in Economic Sciences and raised the standard of the Industrial Economics. After making lots of Contribution, he died on December 1, 1991 in Chicago, Illinois.

 

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