American Philosophical Society
Member History

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302. Economics[X]
81Name:  Lord Nicholas Stern
 Institution:  London School of Economics; British Academy
 Year Elected:  2015
 Class:  3. Social Sciences
 Subdivision:  302. Economics
 Residency:  International
 Living? :   Living
 Birth Date:  1946
Professor Stern is the IG Patel Professor of Economics and Government, Chairman of the Grantham Research Institute on Climate Change and the Environment and Head of the India Observatory at the London School of Economics. He is President of the British Academy (from July 2013), and was elected Fellow of the Royal Society (June 2014). Professor Stern has held academic appointments in the UK at Oxford, Warwick and the LSE and abroad including at the Massachusetts Institute of Technology, the Ecole Polytechnique and the Collège de France in Paris, the Indian Statistical Institute in Bangalore and Delhi, and the People’s University of China in Beijing. He was Chief Economist of the European Bank for Reconstruction and Development, 1994-1999, and Chief Economist and Senior Vice President at the World Bank, 2000-2003. He was Second Permanent Secretary to Her Majesty’s Treasury from 2003-2005; Director of Policy and Research for the Prime Minister’s Commission for Africa from 2004-2005; Head of the Stern Review on the Economics of Climate Change, published in 2006; and Head of the Government Economic Service from 2003-2007. He was knighted for services to economics in 2004 and made a cross-bench life peer as Baron Stern of Brentford in 2007. He has published more than 15 books and 100 articles and his most recent book is Why are We Waiting? The Logic, Urgency and Promise of Tackling Climate Change. He holds 12 honorary degrees and has received the Blue Planet Prize (2009), the BBVA Foundation Frontiers of Knowledge Award (2010), the Leontief Prize (2010), and the Schumpeter Award (2015), amongst many others.
82Name:  Dr. George J. Stigler
 Institution:  University of Chicago
 Year Elected:  1955
 Class:  3. Social Sciences
 Subdivision:  302. Economics
 Residency:  Resident
 Living? :   Deceased
 Birth Date:  1911
 Death Date:  12/1/91
83Name:  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.
84Name:  Dr. Jean Stoetzel
 Year Elected:  1979
 Class:  3. Social Sciences
 Subdivision:  302. Economics
 Residency:  International
 Living? :   Deceased
 Birth Date:  1910
 Death Date:  2/21/87
85Name:  Dr. Jan Tinbergen
 Institution:  Erasmus University, Rotterdam
 Year Elected:  1963
 Class:  3. Social Sciences
 Subdivision:  302. Economics
 Residency:  International
 Living? :   Deceased
 Birth Date:  1903
 Death Date:  6/9/94
86Name:  Dr. James Tobin
 Institution:  Yale University
 Year Elected:  1959
 Class:  3. Social Sciences
 Subdivision:  302. Economics
 Residency:  Resident
 Living? :   Deceased
 Birth Date:  1918
 Death Date:  March 11, 2002
87Name:  Dr. Menahem E. Yaari
 Institution:  The Israel Academy of Sciences and Humanities; Hebrew University of Jerusalem
 Year Elected:  2008
 Class:  3. Social Sciences
 Subdivision:  302. Economics
 Residency:  International
 Living? :   Living
 Birth Date:  1935
Menahem Yaari is a former President of the Israel Academy of Sciences and Humanities and S.A. Schonbrunn Professor of Mathematical Economics Emeritus at Hebrew University of Jerusalem. He holds a Ph.D. from Stanford University (1962) and taught at Yale University from 1962-67. Yaari's seminal work is his 1965 paper "Uncertain Lifetime, Life Insurance, and the Theory of the Consumer," in which he developed a pioneering model of optimum saving under uncertainty about longevity and the role of competitive annuity markets. The paper became a classic and its central theorem that individuals should invest all their savings in deferred annuities has started a new branch of economic theory with numerous articles and thousands of citations. The paper, "A Model of Fixed Capital without Substitution", written jointly with two Nobel-prize winners, Solow and Tobin, and with Ch. V. Weisazacker, made a major contribution to the theory of technical progress and growth. It formulated the first model of technical progress embodied in capital, leading to a shift in theory and empirical studies towards the need for replacing functioning equipment that has become obsolete. His paper on "Changing Tastes" is recognized as a forerunner of the modern theory of behavioral economics (bounded rationality). Finally, his paper on "The Dual Theory of Choice under Risk" has developed a new widely used game-theoretic approach to decision and measures of risk aversion. Yaari's election as head of the Israel Academy of Sciences and Humanities is a recognition of his standing and contributions to Israeli academia and to intellectual discourse in the country. He is also a member of the International Scientific Committee of the Israeli-Palestinian Science Organization, which works to bring together Israeli and Palestinian scholars, and a member of the American Academy of Arts & Sciences (1988). Menahem Yaari was elected an international member of the American Philosophical Society in 2008.
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