George Joseph Stigler Biography
Birthday: January 17, 1911 (Capricorn)
Born In: Renton, Washington, United States
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.