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New Home Economics
Gary Stanley Becker (; December 2, 1930 – May 3, 2014) was an American economist who received the 1992 Nobel Memorial Prize in Economic Sciences. He was a professor of economics and sociology at the University of Chicago, and was a leader of the third generation of the Chicago school of economics. Becker was awarded the Nobel Memorial Prize in Economic Sciences in 1992 and received the United States Presidential Medal of Freedom in 2007. A 2011 survey of economics professors named Becker their favorite living economist over the age of 60, followed by Kenneth Arrow and Robert Solow. Economist Justin Wolfers called him "the most important social scientist in the past 50 years." Becker was one of the first economists to analyze topics that had been researched in sociology, including racial discrimination, crime, family organization, and rational addiction. He argued that many different types of human behavior can be seen as rational and utility-maximizing, including those that ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chicago School Of Economics
The Chicago school of economics is a Neoclassical economics, neoclassical Schools of economic thought, school of economic thought associated with the work of the faculty at the University of Chicago, some of whom have constructed and popularized its principles. Milton Friedman and George Stigler are considered the leading scholars of the Chicago school. Chicago macroeconomic theory rejected Keynesianism in favor of monetarism until the mid-1970s, when it turned to new classical macroeconomics heavily based on the concept of rational expectations. The Saltwater and freshwater economics, freshwater–saltwater distinction is largely antiquated today, as the two traditions have heavily incorporated ideas from each other. Specifically, new Keynesian economics was developed as a response to new classical economics, electing to incorporate the insight of rational expectations without giving up the traditional Keynesian focus on imperfect competition and sticky wages. Chicago econom ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rotten Kid Theorem
Gary Stanley Becker (; December 2, 1930 – May 3, 2014) was an American economist who received the 1992 Nobel Memorial Prize in Economic Sciences. He was a professor of economics and sociology at the University of Chicago, and was a leader of the third generation of the Chicago school of economics. Becker was awarded the Nobel Memorial Prize in Economic Sciences in 1992 and received the United States Presidential Medal of Freedom in 2007. A 2011 survey of economics professors named Becker their favorite living economist over the age of 60, followed by Kenneth Arrow and Robert Solow. Economist Justin Wolfers called him "the most important social scientist in the past 50 years." Becker was one of the first economists to analyze topics that had been researched in sociology, including racial discrimination, crime, family organization, and rational addiction. He argued that many different types of human behavior can be seen as rational and utility-maximizing, including those that ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Justin Wolfers
Justin James Michael Wolfers (born 1972) is an Australian economist and public policy scholar. He is professor of economics and public policy at the Gerald R. Ford School of Public Policy at the University of Michigan, and a Senior Fellow at the Peterson Institute for International Economics. Career Wolfers holds a Ph.D. in economics (1997–2001) and a Master of Arts in economics (2000), both from Harvard University, and a Bachelor of Economics from the University of Sydney (1991–1994). He had a Fulbright Scholarship. Wolfers attended James Ruse Agricultural High School, in Sydney, Australia (1985–1990); it was in high school that he became interested in economics, noting the influence of his economics teacher. He is noted for his research on happiness and its relation to income. Wolfers moved to the University of Michigan as professor of economics and public policy beginning in fall 2012 with his partner, fellow economist Betsey Stevenson.Peter Monaghan (2012) "Much-Wa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Robert Solow
Robert Merton Solow, GCIH (; August 23, 1924 – December 21, 2023) was an American economist who received the 1987 Nobel Memorial Prize in Economic Sciences, and whose work on the theory of economic growth culminated in the exogenous growth model named after him. He was Institute Professor Emeritus of Economics at the Massachusetts Institute of Technology, where he was a professor from 1949 on. He was awarded the John Bates Clark Medal in 1961, the Nobel Memorial Prize in Economic Sciences in 1987, and the Presidential Medal of Freedom in 2014. Four of his PhD students, George Akerlof, Joseph Stiglitz, Peter Diamond, and William Nordhaus, later received Nobel Memorial Prizes in Economic Sciences in their own right. Biography Robert Solow was born in Brooklyn, New York, into a Jewish family on August 23, 1924, the oldest of three children. He attended local public school and excelled academically early in life. In September 1940, Solow went to Harvard College with ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kenneth Arrow
Kenneth Joseph Arrow (August 23, 1921 – February 21, 2017) was an American economist, mathematician and political theorist. He received the John Bates Clark Medal in 1957, and the Nobel Memorial Prize in Economic Sciences in 1972, along with John Hicks. In economics, Arrow was a major figure in postwar neoclassical economic theory. Four of his students (Roger Myerson, Eric Maskin, John Harsanyi, and Michael Spence) went on to become Nobel laureates themselves. His contributions to social choice theory, notably his " impossibility theorem", and his work on general equilibrium analysis are significant. His work in many other areas of economics, including endogenous growth theory and the economics of information, was also foundational. Education and early career Arrow was born on August 23, 1921, in New York City. Arrow's mother, Lilian (Greenberg), was from Iași, Romania, and his father, Harry Arrow, was from nearby Podu Iloaiei. The family was of Romanian-Jewish desc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chicago School Of Economics
The Chicago school of economics is a Neoclassical economics, neoclassical Schools of economic thought, school of economic thought associated with the work of the faculty at the University of Chicago, some of whom have constructed and popularized its principles. Milton Friedman and George Stigler are considered the leading scholars of the Chicago school. Chicago macroeconomic theory rejected Keynesianism in favor of monetarism until the mid-1970s, when it turned to new classical macroeconomics heavily based on the concept of rational expectations. The Saltwater and freshwater economics, freshwater–saltwater distinction is largely antiquated today, as the two traditions have heavily incorporated ideas from each other. Specifically, new Keynesian economics was developed as a response to new classical economics, electing to incorporate the insight of rational expectations without giving up the traditional Keynesian focus on imperfect competition and sticky wages. Chicago econom ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sociology
Sociology is the scientific study of human society that focuses on society, human social behavior, patterns of Interpersonal ties, social relationships, social interaction, and aspects of culture associated with everyday life. The term sociology was coined in the late 18th century to describe the scientific study of society. Regarded as a part of both the social sciences and humanities, sociology uses various methods of Empirical research, empirical investigation and critical analysis to develop a body of knowledge about social order and social change. Sociological subject matter ranges from Microsociology, micro-level analyses of individual interaction and agency (sociology), agency to Macrosociology, macro-level analyses of social systems and social structure. Applied sociological research may be applied directly to social policy and welfare, whereas Theory, theoretical approaches may focus on the understanding of social processes and phenomenology (sociology), phenomenologic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economics
Economics () is a behavioral science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interactions of Agent (economics), economic agents and how economy, economies work. Microeconomics analyses what is viewed as basic elements within economy, economies, including individual agents and market (economics), markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyses economies as systems where production, distribution, consumption, savings, and Expenditure, investment expenditure interact; and the factors of production affecting them, such as: Labour (human activity), labour, Capital (economics), capital, Land (economics), land, and Entrepreneurship, enterprise, inflation, economic growth, and public policies that impact gloss ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Princeton University
Princeton University is a private university, private Ivy League research university in Princeton, New Jersey, United States. Founded in 1746 in Elizabeth, New Jersey, Elizabeth as the College of New Jersey, Princeton is the List of Colonial Colleges, fourth-oldest institution of higher education in the United States and one of the nine colonial colleges chartered before the American Revolution. The institution moved to Newark, New Jersey, Newark in 1747 and then to its Mercer County, New Jersey, Mercer County campus in Princeton nine years later. It officially became a university in 1896 and was subsequently renamed Princeton University. The university is governed by the Trustees of Princeton University and has an endowment of $37.7 billion, the largest List of colleges and universities in the United States by endowment, endowment per student in the United States. Princeton provides undergraduate education, undergraduate and graduate education, graduate instruction in the hu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Presidential Medal Of Freedom
The Presidential Medal of Freedom is the highest civilian award of the United States, alongside the Congressional Gold Medal. It is an award bestowed by decision of the president of the United States to "any person recommended to the President for award of the Medal or any person selected by the President upon his own initiative", and was created to recognize people who have made "an especially meritorious contribution to (1) the security or national interests of the United States, or (2) world peace, or (3) cultural or other significant public or private endeavors." The award is not limited to U.S. citizens, and, while it is a civilian award, it can also be awarded to military personnel and worn on the uniform. It was established in 1963 by President John F. Kennedy, superseding the Medal of Freedom that was initially established by President Harry S. Truman in 1945 to honor civilian service. Occasionally, the medal award is further denoted as, "with distinction." There are ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Von Neumann Award
The John von Neumann Award (), named after John von Neumann, is given annually by the Rajk László College for Advanced Studies in Budapest, to an outstanding scholar in the exact social sciences, whose works have had substantial influence over a long period of time on the studies and intellectual activity of the students of the college. The award was established in 1994 and is given annually. In 2013, separately from the annual prize, Kenneth J. Arrow was given the Honorary John von Neumann Award. This award differentiates itself from other scientific awards on the basis that it is given by students of economics and various social sciences, decided after a long deliberation process. The students select the nominees and vote for the prize-winner in the Assembly of the College after a review and debate regarding the pre-selected names. Most of the recipients of the award have been academics working in some branch of economics - an exception is the philosopher and political theo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Medal Of Science
The National Medal of Science is an honor bestowed by the President of the United States to individuals in science and engineering who have made important contributions to the advancement of knowledge in the fields of behavioral science, behavioral and social sciences, biology, chemistry, engineering, mathematics and physics. The twelve member presidential Committee on the National Medal of Science is responsible for selecting award recipients and is administered by the National Science Foundation (NSF). It is the highest science award in the United States. History The National Medal of Science was established on August 25, 1959, by an act of the Congress of the United States under . The medal was originally to honor scientists in the fields of the "physical, biological, mathematical, or engineering sciences". The Committee on the National Medal of Science was established on August 23, 1961, by Executive order (United States), executive order 10961 of President John F. Kennedy. O ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
