Gary Becker

Date of Birth: December 2, 1930

Zodiac Sign: Sagittarius

Date of Death: May 3, 2014

Biography

Gary Stanley Becker was an influential American economist renowned for his work in the fields of human capital, economics of the family, and economic analysis of crime. Born in Pottsville, Pennsylvania, Becker was a pioneer in applying economic theory to a wide range of human behavior and social issues previously considered outside the purview of economics. He completed his undergraduate degree at Princeton University and earned his Ph.D. from the University of Chicago, where he later became a professor. Becker’s groundbreaking work earned him numerous accolades, including the Nobel Memorial Prize in Economic Sciences in 1992. His research demonstrated that economic principles could explain aspects of human behavior such as racial discrimination, family dynamics, and addiction. He authored several influential books, including “Human Capital” and “A Treatise on the Family.” Becker’s contributions extended beyond academia; he was a prolific writer and public intellectual, contributing regularly to the Wall Street Journal and other publications. His work remains influential in both economics and public policy.

5 Interesting Facts about Gary Becker

1. Gary Becker was awarded the Nobel Memorial Prize in Economic Sciences in 1992 for his extended economic theory to aspects of human behavior.

2. He was a professor at the University of Chicago for over four decades.

3. Becker wrote extensively on topics such as crime, discrimination, and drug addiction, pioneering the field of “economics of everything.”

4. He served as an economic adviser to U.S. presidents including Ronald Reagan.

5. Becker was also a recipient of the Presidential Medal of Freedom, awarded to him in 2007.

5 Most Interesting Quotes from Gary Becker

1. “The economic approach is not something that applies only to material goods; it’s an approach to all human behavior.”

2. “I was not conscious of a special strategy in my research. I just liked good problems and I had a lot of energy to solve them.”

3. “Human capital is the knowledge, skills, and health that people invest in and accumulate throughout their lives, enabling them to realize their potential as productive members of society.”

4. “I have tried to keep my work as close to everyday life as possible.”

5. “The ability to quantify and measure is one of the great strengths of economics.”

Highest Net Worth Achieved

The highest net worth achieved by Gary Becker is not publicly documented, as he was primarily an academic, not a business entrepreneur. However, his significant contributions to economics and his numerous awards and honors reflect his high standing and influence in his field.