Gary Becker: Difference between revisions

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Gary Becker[edit]

Gary Stanley Becker (December 2, 1930 – May 3, 2014) was an American economist and a professor of economics and sociology at the University of Chicago. He was known for his work in the fields of human capital, economics of the family, and economic analysis of crime. Becker was awarded the Nobel Memorial Prize in Economic Sciences in 1992 for "having extended the domain of microeconomic analysis to a wide range of human behavior and interaction, including nonmarket behavior."

Early Life and Education[edit]

Gary Becker was born in Pottsville, Pennsylvania, and grew up in Brooklyn, New York. He attended Princeton University, where he earned his bachelor's degree in 1951. He then went on to pursue graduate studies at the University of Chicago, where he received his Ph.D. in 1955 under the supervision of Milton Friedman.

Academic Career[edit]

Becker began his academic career at the University of Chicago, where he was influenced by the Chicago school of economics. He later taught at Columbia University before returning to the University of Chicago, where he spent the majority of his career.

Contributions to Economics[edit]

Becker's work extended the scope of economic analysis to a wide range of human behavior. He is best known for his research on human capital, which examines how investments in education and training can increase an individual's productivity and earnings. His book "Human Capital" is considered a seminal work in this field.

Becker also made significant contributions to the economics of the family, analyzing how economic principles can explain family behavior, including marriage, divorce, and fertility. His work in this area laid the foundation for the field of family economics.

In addition, Becker applied economic analysis to the study of crime and punishment, arguing that individuals engage in criminal activity based on a rational calculation of costs and benefits. This approach has influenced the development of law and economics.

Awards and Honors[edit]

In 1992, Becker was awarded the Nobel Memorial Prize in Economic Sciences for his pioneering work in applying economic analysis to a wide range of human behavior. He was also a recipient of the United States Presidential Medal of Freedom in 2007.

Personal Life[edit]

Gary Becker was married to Guity Nashat, a historian of the Middle East. He had two daughters from his first marriage. Becker was known for his interdisciplinary approach, often collaborating with sociologists and other social scientists.

Legacy[edit]

Becker's work has had a profound impact on the field of economics, particularly in the areas of human capital, family economics, and the economic analysis of crime. His interdisciplinary approach has influenced a generation of economists and social scientists.

Related Pages[edit]

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-= Gary Becker =
+== Gary Becker ==
-'''Gary Stanley Becker''' (December 2, 1930 – May 3, 2014) was an American economist and a professor of economics and sociology at the [[University of Chicago]]. He was awarded the [[Nobel Memorial Prize in Economic Sciences]] in 1992 for his work in extending the domain of microeconomic analysis to a wide range of human behavior and interaction, including non-market behavior.
+[[File:GaryBecker-May24-2008.jpg|thumb|right|Gary Becker in 2008]]
+'''Gary Stanley Becker''' (December 2, 1930 – May 3, 2014) was an American economist and a professor of economics and sociology at the [[University of Chicago]]. He was known for his work in the fields of [[human capital]], [[economics of the family]], and [[economic analysis of crime]]. Becker was awarded the [[Nobel Memorial Prize in Economic Sciences]] in 1992 for "having extended the domain of microeconomic analysis to a wide range of human behavior and interaction, including nonmarket behavior."
 == Early Life and Education ==
-Gary Becker was born in Pottsville, Pennsylvania, and grew up in Brooklyn, New York. He attended [[Princeton University]], where he earned his bachelor's degree in 1951. He then went on to the [[University of Chicago]], where he completed his Ph.D. in economics in 1955 under the supervision of [[Milton Friedman]].
+Gary Becker was born in [[Pottsville, Pennsylvania]], and grew up in [[Brooklyn, New York]]. He attended [[Princeton University]], where he earned his bachelor's degree in 1951. He then went on to pursue graduate studies at the [[University of Chicago]], where he received his Ph.D. in 1955 under the supervision of [[Milton Friedman]].
 == Academic Career ==
-Becker began his academic career at the [[University of Chicago]], where he was influenced by the Chicago School of Economics. He later taught at [[Columbia University]] before returning to the University of Chicago, where he spent the majority of his career.
-== Contributions to Economics ==
+Becker began his academic career at the [[University of Chicago]], where he was influenced by the Chicago school of economics. He later taught at [[Columbia University]] before returning to the University of Chicago, where he spent the majority of his career.
-Gary Becker is best known for his work in applying economic analysis to a wide range of human behavior. His pioneering work in the field of [[human capital]] theory, the economics of the family, and the study of [[discrimination]] has had a profound impact on the field of economics.
+=== Contributions to Economics ===
-=== Human Capital ===
+Becker's work extended the scope of economic analysis to a wide range of human behavior. He is best known for his research on [[human capital]], which examines how investments in education and training can increase an individual's productivity and earnings. His book "Human Capital" is considered a seminal work in this field.
-Becker's work on human capital theory emphasized the importance of education and training in increasing the productivity of individuals. He argued that investments in education and training are similar to investments in physical capital, as they increase the future earnings potential of individuals.
-=== Economics of the Family ===
+Becker also made significant contributions to the [[economics of the family]], analyzing how economic principles can explain family behavior, including marriage, divorce, and fertility. His work in this area laid the foundation for the field of [[family economics]].
-In his analysis of the family, Becker applied economic principles to understand family behavior, including marriage, divorce, and fertility. His work in this area is encapsulated in his book "A Treatise on the Family," where he used economic models to analyze family decision-making processes.
-=== Discrimination ===
+In addition, Becker applied economic analysis to the study of [[crime and punishment]], arguing that individuals engage in criminal activity based on a rational calculation of costs and benefits. This approach has influenced the development of [[law and economics]].
-Becker's book "The Economics of Discrimination" was one of the first to apply economic theory to the study of racial and gender discrimination. He developed models to show how discrimination can persist in competitive markets and the economic costs associated with it.
 == Awards and Honors ==
-In addition to the Nobel Prize, Becker received numerous awards and honors throughout his career, including the [[John Bates Clark Medal]] in 1967 and the [[Presidential Medal of Freedom]] in 2007.
+In 1992, Becker was awarded the [[Nobel Memorial Prize in Economic Sciences]] for his pioneering work in applying economic analysis to a wide range of human behavior. He was also a recipient of the [[United States Presidential Medal of Freedom]] in 2007.
+== Personal Life ==
+Gary Becker was married to [[Guity Nashat]], a historian of the Middle East. He had two daughters from his first marriage. Becker was known for his interdisciplinary approach, often collaborating with sociologists and other social scientists.
 == Legacy ==
-Gary Becker's work has had a lasting impact on the field of economics and beyond. His interdisciplinary approach has influenced fields such as sociology, law, and public policy. Becker's application of economic analysis to social issues has opened new avenues for research and policy-making.
-== Selected Works ==
+Becker's work has had a profound impact on the field of economics, particularly in the areas of human capital, family economics, and the economic analysis of crime. His interdisciplinary approach has influenced a generation of economists and social scientists.
-* "The Economics of Discrimination" (1957)
-* "Human Capital: A Theoretical and Empirical Analysis, with Special Reference to Education" (1964)
-* "A Treatise on the Family" (1981)
-== See Also ==
+== Related Pages ==
-* [[Chicago School of Economics]]
+* [[Human capital]]
-* [[Human Capital]]
+* [[Economics of the family]]
+* [[Law and economics]]
+* [[University of Chicago]]
 * [[Nobel Memorial Prize in Economic Sciences]]
-== References ==
-* Becker, Gary S. "The Economics of Discrimination." University of Chicago Press, 1957.
-* Becker, Gary S. "Human Capital: A Theoretical and Empirical Analysis, with Special Reference to Education." University of Chicago Press, 1964.
-* Becker, Gary S. "A Treatise on the Family." Harvard University Press, 1981.
-== External Links ==
-* [https://www.nobelprize.org/prizes/economic-sciences/1992/becker/ Nobel Prize Biography]
-* [https://www.chicagobooth.edu/faculty/directory/b/gary-s-becker University of Chicago Faculty Page]
-[[Category:1930 births]]
-[[Category:2014 deaths]]
 [[Category:American economists]]
 [[Category:Nobel laureates in Economics]]
 [[Category:University of Chicago faculty]]
-[[Category:Princeton University alumni]]
-[[Category:University of Chicago alumni]]