| | 1 | Name: | Dr. Robert E. Lucas | | | Institution: | University of Chicago | | | Year Elected: | 1997 | | | Class: | 3. Social Sciences | | | Subdivision: | 302. Economics | | | Residency: | Resident | | | Living? : |
Deceased
| | | Birth Date: | 1938 | | | Death Date: | May 15, 2023 | | | | | | |
Robert Lucas, who was awarded the Nobel Memorial Prize in Economics in 1995, has been the single most influential intellectual force in macroeconomic theory in the past 30 years. He has led a generation of macroeconomists into a new style of work: explicitly dynamic, insistent on a particular equilibrium concept, attentive to the influence of expectation but insistent also on a particular way of formulating expectations and processing information. Dr. Lucas earned his B.A. and Ph.D. degrees from the University of Chicago and joined the faculty of his alma mater in 1975 after an 11-year stint at Carnegie Mellon University. Since 1980 he has held the univeristy's John Dewey Distinguished Service Professorship in Economics. | |
| 2 | Name: | Dr. Amartya Kumar Sen | | | Institution: | Harvard University | | | Year Elected: | 1997 | | | Class: | 3. Social Sciences | | | Subdivision: | 302. Economics | | | Residency: | Resident | | | Living? : |
Living
| | | Birth Date: | 1933 | | | | | | |
Amartya Sen is Lamont University Professor at Harvard University and was until recently the Master of Trinity College, Cambridge. In 1998 he received the Nobel Prize in Economics for his "contributions to welfare economics." Educated at Presidency College in Calcutta and at Trinity College, Dr. Sen served as Professor of Economics at Delhi University and at the London School of Economics as well as Drummond Professor of Political Economy at Oxford University. He is past president of the Econometric Society, the Indian Economic Association, the American Economic Association and the International Economic Association. He is also a former president of OXFAM and continues to serve as its Honorary Advisory. Professor Sen's work ranges over a number of fields in economics, philosophy, and decision theory, including social choice theory, welfare economics, theory of measurement, development economics, moral and political philosophy, and the economics of peace and war. Amartya Sen's books include Collective Choice and Social Welfare (1970), On Economic Inequality (1973, 1997), Poverty and Famines (1981), Choice, Welfare and Measurement (1982), Resources, Values and Development (1984), On Ethics and Economics (1987), The Standard of Living (1987) Inequality Reexamined (1992), and Development as Freedom (1999). Rationality and Freedom (2004) was followed by a companion volume, Freedom and Justice. In 2009, he published The Idea of Justice, in 2013 An Uncertain Glory, and in 2016 The Country of the First Boys. In addition to the Nobel Prize, Professor Sen's work has been recognized with the "Bharat Ratna" (the highest honor awarded by the President of India), the Edinburgh Medal, the Eisenhower Medal, the National Humanities Medal (2011), the inaugural John Maynard Keynes Prize (2015), and the Johan Skytte Prize in Political Science (2017). Amartya Sen was elected to the American Philosophical Society in 1997. | |
| 3 | Name: | Dr. Joseph E. Stiglitz | | | Institution: | Columbia University | | | Year Elected: | 1997 | | | Class: | 3. Social Sciences | | | Subdivision: | 302. Economics | | | Residency: | Resident | | | Living? : |
Living
| | | Birth Date: | 1943 | | | | | | |
Joseph E. Stiglitz was born in Gary, Indiana in 1943. A graduate of Amherst College, he received his Ph.D. from the Massachusetts Institute of Technology in 1967, became a full professor at Yale University in 1970, and in 1979 was awarded the John Bates Clark Award, given biennially by the American Economic Association to the economist under 40 who has made the most significant contribution to the field. He has also taught at Princeton University, Stanford University and the Massachusetts Institute of Technology and was the Drummond Professor and a fellow of All Souls College, Oxford. He is now University Professor at Columbia University and Chair of Columbia University's Committee on Global Thought. In 2001, he was awarded the Nobel Prize in economics for his analyses of markets with asymmetric information. Dr. Stiglitz has been credited with helping create "The Economics of Information," a new branch of economics exploring the consequences of information asymmetries and pioneering such pivotal concepts as adverse selection and moral hazard, which have now become standard tools not only of theorists, but of policy analysts. He has made major contributions to macro-economics and monetary theory, to development economics and trade theory, to public and corporate finance, to the theories of industrial organization and rural organization, and to the theories of welfare economics and of income and wealth distribution. In the 1980s, he helped revive interest in the economics of research and development. His work has helped explain the circumstances in which markets do not work well and how selective government intervention can improve their performance. Recognized around the world as a leading economic educator, he has written textbooks that have been translated into more than a dozen languages. He founded one of the leading economics journals, The Journal of Economic Perspectives, and his book Globalization and Its Discontents (2001) has been translated into 35 languages and has sold more than one million copies worldwide. Other recent books include Freefall: America, Free Markets, and the Sinking of the World Economy; The Roaring Nineties; (with Bruce Greenwald) Towards a New Paradigm in Monetary Economics; (with Andrew Charlton) Fair Trade for All; Making Globalization Work (2006); and The Price of Inequality (2012); People, Power, and Profits: Progressive Capitalism for an Age of Discontent (2019). Dr. Stiglitz was a member of the Council of Economic Advisers from 1993-95, during the Clinton administration, and served as CEA chairman from 1995-97. He then became Chief Economist and Senior Vice-President of the World Bank from 1997-2000. He also holds a part-time appointment at the University of Manchester as Chair of the Management Board and Director of Graduate Summer Programs at the Brooks World Poverty Institute. In 2018 he was awarded the Sydney Peace Prize. | |
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