Theodore Schultz Biography
Birthday: April 30, 1902 (Taurus)
Born In: Arlington, South Dakota, United States
Theodore William Schultz was an American economist whose works concerning the significance of human capital in economic development earned him the 1979 Nobel Memorial Prize in Economic Sciences. He shared the prize with another economist, Sir William Arthur Lewis. He was an empirical economist whose research was concerned with understanding global agricultural issues. He completed his graduation and doctorate from agricultural economics from the University of Wisconsin. As part of his academic career he taught at the Iowa State College and the University of Chicago. He also served as the chairman of the Department of Economics at the University of Chicago during 1946-1961. Though he began research as an agricultural economist, pioneering studies related to agricultural problems of the United States and developing countries, he was later noted for his studies in the field of human capital. He was the author of several publications that include ‘The Economic Value of Education’ (1963), ‘Economic Growth and Agriculture’ (1968) and ‘Investing in People: The Economics of Population Quality’ (1981).