Economist

Gary Becker

Gary Becker

Born:

Gary Backer was an American economist and empiricist born on 2 December 1930, In Pottsville, Pennsylvania, U.S.

Family Background:

He was born in Jewish Family. His parents were not well educated. His father had run a small business. He had two sisters and one brother.

Personal Life:

He had married twice in his life. In 1954, He had married Doria Slote. They had two daughters. His wife died in 1970. Then he married Guity Nashat in 1980. He had two stepsons from this marriage.

Education:

In 1951, He had completed his BA degree from the Princeton University. Then he continued to the University of Chicago for graduate work in economics. In 1955, He had earned Ph.D. degree.

Career:

He had been started his career by accepting the teaching offer at the Columbia University in 1957. There he had started a workshop on labor economics and related subjects.  After a few years economist, Jacob Mincer had joined the Columbia department and had become co-director of the workshop. Along with Mincer, He had developed the New Home Economics, primarily based on Becker’s theory of allocation of time. In the 1970s, He had returned to the University of Chicago as a professor of an economist. During that time outstanding collaboration with George Stigler and Harry Johnson had been joined the department that had made the atmosphere a very stimulating one. He had performed the vital research in the economics. He involved in the research of human elements in such studies, he had focused on the motivating factors of human behavior rather than on the study of broad economic trends and extended microeconomic analysis to topics traditionally belonging to sociology.

Unknown Facts:

  • His full name was Gary Stanley Becker.
  • He is known for his work in the field of social and family economics.

Master Stroke:

  • He and Jacob Mincer had Promoted the concept of Human Capital, which had a term that indicated to all the Knowledge, Talent, Skill, Ability, Experience, Intelligence, Training, Judgment, etc possessed individually and collectively by individuals in a population.

Awards and Achievements:

  • In 1992, He had received the Sveriges Riksbank Prize in Economic Science.
  • In 1997, He had been received the Pontifical Academy of Sciences award.
  • In 2000, He had received the National Medal of Science.
  • In 2007, He had received the Presidential Medal of Freedom.

What can we learn from Him??

Like Gary Becker, Do your work with full of concentrate. Never think negative.

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