Biographical Memoirs Volume 76 (1999) / Chapter Skim
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George Joseph Stigler
George Joseph Stigler
Pages 340-359
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Despite creep laciness at his cleath, like so many others who knew him, I cannot think of him without an inadvertent smile rising to my lips. He was as quick of wit as of mincI, en c!
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of Joseph and Elizabeth Hungler Stigler, who had separately migrates! to the Uniter!
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Nef, economic historian, en c! their younger colleague Henry Simons, who became a close personal frienc!
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marry Anne Armstrong, an art history major, en c! I marries!
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In 1958 Allen Wallis, then clean of the University of Chicago business school, persuaclec! him to accept the Charles R
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of the Department of Defense, ~ 969-70, vicechairman, Securities Investor Protection Corporation, 197073, co-chairman, Blue Ribbon Telecommunications Task Force, Illinois Commerce Commission, 1990-91. A wore!
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law school that came to be known at the Chicago School. His workshop on inclustrial organization was an outgrowth of a law school seminar starter!
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~ 987. Its systematic linking of highly abstract theory to observable phenomena is unique among intermediate textbooks in price theory, as is its concise yet rigorous exposition.
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an approximate solution, explaining that "there cloes not appear to be any direct methoc! of fincling the minimum of a linear function subject to linear constraints." Two years later George Dantzig proviclec!
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eminently reaciable way. As he wrote in his Nobel memorial lecture The proposal to study the economics of information was promptly and widely accepted.
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ECONOMIC REGULATION Starting from the traclitional view that government regulation was instituter! for the protection of the public, Stigler was struck by the absence of any quantitative studies of the actual effect of regulation.
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is that it misdirects attention" to preaching to the regulators rather than chancing their incentives. Stigler's analysis fed the emerging field that has since come to be called "public choice" economics: the shift from viewing the political market as not susceptible to economic analysis, as one in which disinterested politicians and bureaucrats pursue the "public interest," to viewing it as one in which the participants are seeking, as in the economic market, to pursue their own interest, and hence subjectto analysis with the usual tools of economics.
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Article after article combines subtle theoretical analysis with substantial nuggets of empirical evidence, presented so casually as to conceal the care with which the ciata were compilec!
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above all, in substance, they reflect accurately his own engaging personality en c! his extraorclinarily diverse contributions to our science." STIGLER AS TEACHER Stigler was also a great teacher.
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fellow recipient of the Nobel Memorial Prize in Economic Science, Ronalc! Coase: He is equally at home in the history of ideas, economic theory, and the study of politics.
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1993. A student's eye view of George Stigler.
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New York: National Bureau of Economic Research. The kinky oligopoly demand curve and rigid prices.
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Homewood, Ill.: Irwin. 1970 Director's law of public income redistribution.
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G E O R G E J O S E P H S T I G L E R 1988 Memoirs of an Unregulated Economist. New York: Basic Books.
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