George Stigler
George Joseph Stigler (
January 17,
1911 –
December 1,
1991) was a
U.S. economist. He won the
Nobel Memorial Prize in Economics in
1982.
Stigler is best known for developing the
Economic Theory of Regulation, also known as
capture, which says that interest groups and other political participants will use the regulatory and coercive powers of government to shape laws and regulations in a way that is beneficial to them. This theory is an important component of the
Public Choice field of economics. He also carried out extensive research into the
history of economic thought.
His
1962 article "Information in the Labor Market" developed the
theory of search unemployment.
Stigler was born in
Seattle,
Washington, and attended the
University of Washington,
Northwestern University, and received his
Ph.D. from the
University of Chicago in
1938. He was a founding member of the
Mont Pelerin Society, and served as its president from
1976 to
1978.
He also received
National Medal of Science in
1987.
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*
Stephen Stigler, his son
*
Stigler's conjecture* http://www.econlib.org/LIBRARY/Enc/bios/Stigler.html
*
George Stigler's seminal studies of industrial structures, functioning of markets and causes and effects of public regulation.
