William Baumol

William Baumol
Born	William Jack Baumol (1922-02-26)February 26, 1922 New York City, U.S.
Died	May 4, 2017(2017-05-04) (aged 95) New York City, U.S.
Academic career
Institution	New York University Princeton University
Field	Microeconomics, industrial organization, entrepreneurship
School or tradition	Neo-Keynesian economics
Alma mater	College of the City of New York (B.Sc. 1942) London School of Economics (Ph.D. 1949)
Doctoral advisor	Lionel Robbins
Doctoral students	Lionel W. McKenzie William G. Bowen Burton Malkiel Harold Tafler Shapiro[1]
Influences	Joseph Schumpeter Arthur Pigou John Maynard Keynes
Contributions	Baumol–Tobin model Baumol's cost disease Contestable market theory Sales revenue maximization model
Information at IDEAS / RePEc

William Jack Baumol (February 26, 1922 – May 4, 2017) was an American economist. He was a professor of economics at New York University, Academic Director of the Berkley Center for Entrepreneurship and Innovation, and Professor Emeritus at Princeton University. He was a prolific author of more than eighty books and several hundred journal articles.^[2] He is the namesake of the Baumol effect.

Baumol wrote extensively about labor market and other economic factors that affect the economy. He also made significant contributions to the theory of entrepreneurship and the history of economic thought. He is among the most influential economists in the world according to IDEAS/RePEc. He was elected a Fellow of the American Academy of Arts and Sciences in 1971,^[3] the American Philosophical Society in 1977,^[4] and the United States National Academy of Sciences in 1987.^[5]

Baumol was considered a candidate for the Nobel Prize in Economics for 2003,^[6] and Thomson Reuters cited him as a potential recipient in 2014,^[7] but he died without receiving the prize.