Famous American Economists

One of the few personalities known for his disdain of self-promotion, Thomas Sowell is an important American social theorist and economist. Over the years, he has played a prominent role working as a faculty member of many prestigious universities, such as the University of California, Los Angeles (UCLA) and Cornell University. 

Milton Friedman was an American economist. Widely regarded as one of the most influential economists of the 20th century, Friedman was honored with the Nobel Memorial Prize in Economic Sciences in 1976. One of the most influential personalities of the Chicago school of economics, Friedman mentored people like Gary Becker and Thomas Sowell who went on to become leading economists.

Daniel Kahneman is an Israeli economist and psychologist. He was honored with the 2002 Nobel Memorial Prize in Economic Sciences for his work on behavioral economics. In 2011, Kahneman was named among the top global thinkers by Foreign Policy magazine. In 2015, Daniel Kahneman was ranked seventh in the most influential economist in the world list published by The Economist.

Apart from being the MD of Thiel Capital, mathematician and economist Eric Weinstein is also a researcher at Oxford. The Harvard alumnus had quit academia for 20 years before he returned again. He coined the term “intellectual dark web” and works on topics such as gauge theory, risk management, and immigration.

Born to economics professor parents, Abhijit Banerjee grew up in India before he moved to the U.S. to study at Harvard. He later taught at Harvard and Princeton and is now associated with MIT. His studies on the ways of reducing world poverty won him a Nobel Prize.

Ben Bernanke is an American economist who served two terms as the chair of the Board of Governors of the Federal Reserve System from 2006 to 2014, during which he supervised the Federal Reserve's response to the global financial crisis (GFC). For his efforts during GFC, Ben Bernanke was named Time Person of the Year in 2009.

Nobel laureate Joseph E. Stiglitz is best known for his work on the theory of markets with asymmetric information. The MIT alumnus has taught at prestigious institutes such as Harvard and Stanford and currently teaches at Columbia University, He has been an economic advisor to the U.S. government, too.

Lawrence Kudlow began his career as staff economist at the Federal Reserve Bank of New York and then served as financial analyst at Wall Street, before joining the Ronald Reagan administration. Later he became an economic media commentator with National Review, and hosted several shows on CNBC. During the Trump administration, he served as Director of the National Economic Council.

Yale and Stanford alumnus Arthur Laffer is now one of the greatest economists of the U.S. Best known for his Laffer curve and his theory of taxes that explained how low tax rates could eventually provide higher revenues, he has been crucial to the American tax system.

Apart from being the president of Harvard, Lawrence Summers has also been the U.S. secretary of the treasury, the World Bank’s chief economist, and the NEC director. The MIT alumnus became one of the youngest tenured faculty members at Harvard. He also writes regularly for The Washington Post.

John Kenneth Galbraith was an intellectual, diplomat, economist, and public official. One of the most influential exponents of 20th-century American liberalism, Galbraith published many books concerning the American economy. Galbraith is one of the few individuals to be honored with the Presidential Medal of Freedom and the Medal of Freedom. He also received 50 honorary degrees from various institutions.

Esther Duflo is a French–American economist. She is credited with co-founding the Abdul Latif Jameel Poverty Action Lab, a global research center that works towards reducing poverty worldwide. In 2019, she shared the Nobel Memorial Prize in Economic Sciences with Michael Kremer and Abhijit Banerjee for their efforts to reduce poverty.

Economist Paul Krugman, who has taught at Yale, MIT, and Princeton, later won the Nobel Memorial Prize in Economic Sciences, primarily for his work on the new trade theory and economic geography. He has also gained popularity for his op-ed column in The New York Times.

Henry George was a political economist and journalist. His work was very popular during the Progressive Era and sparked many reform movements. The economic philosophy known as Georgism is inspired by him. His book Progress and Poverty, considered his magnum opus, sold millions of copies worldwide. He was a vocal advocate for women's political rights. 

Born to Egyptian parents in New York, Mohamed A. El-Erian grew up in the U.S., Egypt, and France, with his diplomat father. Educated at Cambridge and Oxford, he later served as the CEO of PIMCO. Apart from being a Bloomberg columnist, he has also written bestsellers such as When Markets Collide.

Economist and University of California, Berkeley professor Robert Reich has also been the U.S. secretary of labor. His rare bone disorder made him a victim of bullies in childhood, but he later won the Rhodes Scholarship to Oxford. His bestselling book Saving Capitalism was made into a Netflix documentary.

Economist Janet Yellen has had an illustrious career as an academic and researcher, and has taught at Harvard University and other reputed institutes. After chairing the Federal Reserve for 4 years, she is now the United States Secretary of the Treasury. She is married to Nobel-winning economist George Akerlof.

Eminent scholar David D. Friedman has excelled in a wide range of academic areas, including economics, physics, law, and business. The Harvard alumnus is best known for his anarcho-capitalist theories and the book The Machinery of Freedom but has penned countless other books, too, including two science-fiction fantasy novels.

The CEO of Lazard, Peter R. Orszag has previously also been associated with Citigroup and has headed the OMB. A Princeton alumnus and a PhD from the London School of Economics, he has also been associated with organizations such as the National Academy of Medicine and been a lecturer of macroeconomics.

Dan Ariely is an Israeli-American professor and author. He is the founder of the research institution, The Center for Advanced Hindsight, and the co-founder of several companies. Currently, he is also the James B. Duke Professor of psychology and behavioral economics at Duke University. He is the author of the three New York Times bestsellers as well. 

Sociologist, author, and economic historian Immanuel Wallerstein is best remembered for his iconic work The Modern World System, which was the first volume of his world-system theory. He was a Yale researcher and had first been driven to understand world history when he read up about the anticolonial movement in India.

Stanley Fischer is an Israeli American economist. He was previously the chief economist at the World Bank and the vice-chairman of the Federal Reserve. In 2014, he was nominated by US President Barack Obama to be the vice-chairman of the US Federal Reserve Board of Governors. He is a member of the Inter-American Dialogue as well.