Gary Becker

Gary Becker
Becker in 2008
Born	Gary Stanley Becker (1930-12-02)December 2, 1930 Pottsville, Pennsylvania, U.S.
Died	May 3, 2014(2014-05-03) (aged 83) Chicago, Illinois, U.S.
Education	Princeton University (BA) University of Chicago (PhD)
Academic career
Institution	Columbia University (1957–1968) University of Chicago (1968–2014)
Field	Economics
School or tradition	Chicago School of Economics
Doctoral advisor	H. Gregg Lewis
Doctoral students	David O. Meltzer Russ Roberts Walter Block Shoshana Grossbard Darius Lakdawalla Rodrigo R. Soares
Influences	Milton Friedman Theodore Schultz
Contributions	A Treatise on the Family (1981) Rotten kid theorem
Awards	John Bates Clark Medal (1967) Nobel Memorial Prize in Economic Sciences (1992) Pontifical Academy of Sciences (1997) National Medal of Science (2000) John von Neumann Award (2004) Presidential Medal of Freedom (2007)

Gary Stanley Becker (/ˈbɛkər/; December 2, 1930 – May 3, 2014) was an American economist who received the 1992 Nobel Memorial Prize in Economic Sciences.^[1] He was a professor of economics and sociology at the University of Chicago, and was a leader of the third generation of the Chicago school of economics.^[2][3]

Becker was awarded the Nobel Memorial Prize in Economic Sciences in 1992 and received the United States Presidential Medal of Freedom in 2007. A 2011 survey of economics professors named Becker their favorite living economist over the age of 60, followed by Kenneth Arrow and Robert Solow. Economist Justin Wolfers called him "the most important social scientist in the past 50 years."^[4]

Becker was one of the first economists to analyze topics that had been researched in sociology, including racial discrimination, crime, family organization, and rational addiction. He argued that many different types of human behavior can be seen as rational and utility-maximizing, including those that are often regarded as self-destructive or irrational. His approach also extended to altruistic aspects of human behavior, which he showed to sometimes have self-serving ends (when individuals' utility is properly defined and measured, that is). He was also among the foremost exponents of the study of human capital. According to Milton Friedman, he was "the greatest social scientist who has lived and worked" in the second part of the twentieth century.^[5]