The Wisconsin school in

economics Economics () is the social science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analyzes ...

was based at the

University of Wisconsin–Madison A university () is an institution of higher (or tertiary) education and research which awards academic degrees in several academic disciplines. Universities typically offer both undergraduate and postgraduate programs. In the United Stat ...

, and played a significant role in American economics in the first half of the 20th century. The Wisconsin school was central to

institutionalism Institutionalism may refer to: * Institutional theory, an approach to the study of politics that focuses on formal institutions of government * New institutionalism, a social theory that focuses on developing a sociological view of institutions, the ...

in the

United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territori ...

, and also played a prominent role in labor economics and in the development of the policy ideas associated with the New Deal. The central figures in the Wisconsin school were

Richard T. Ely Richard Theodore Ely (April 13, 1854 – October 4, 1943) was an American economist, author, and leader of the Progressive movement who called for more government intervention to reform what they perceived as the injustices of capitalism, especial ...

and his student

John R. Commons John Rogers Commons (October 13, 1862 – May 11, 1945) was an American institutional economist, Georgist, progressive and labor historian at the University of Wisconsin–Madison. Early years John R. Commons was born in Hollansburg, Ohio on ...

. Notable students of Commons included Edwin E. Witte, largely responsible for the drafting of the Social Security Act, Selig Perlman, Kenneth Parsons, and Harold Groves. Other notable economists associated with the Wisconsin school include

Walter Heller Walter Wolfgang Heller (27 August 1915 – 15 June 1987) was a leading American economist of the 1960s, and an influential adviser to President John F. Kennedy as chairman of the Council of Economic Advisers, 1961–64. Life and career Heller ...

, Robert J. Lampman,

Warren Samuels Warren Joseph Samuels (September 14, 1933 – August 17, 2011) was an American economist and historian of economic thought. He received a BBA from University of Miami, Miami, FL and obtained his Ph.D. from University of Wisconsin–Madison. Afte ...

, and

Theodore Schultz Theodore William Schultz (; 30 April 1902 – 26 February 1998) was an American Agricultural economist and chairman of the University of Chicago Department of Economics. Schultz rose to national prominence after winning the 1979 Nobel Memorial ...

Further reading

References

See also