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Encyclopedia > George Stigler

George Joseph Stigler (1911 - 1991) was a U.S. economist. He won the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel in 1982.


Stigler is best known for developing the Economic Theory of Regulation, also known as capture, which says that interest groups and other political participants will use the regulatory and coercive powers of government to shape laws and regulations in a way that is beneficial to them. This theory is an important component of the Public Choice field of economics.


Stigler was born in Seattle, Washington and attended the University of Washington, Northwestern University, and received his PhD from the University of Chicago in 1938.


See also


  Results from FactBites:
 
AllRefer.com - George Joseph Stigler (Economics, Biography) - Encyclopedia (235 words)
A professor at Univ. of Chicago from 1958, Stigler wrote about the economics of information.
In other works, he argued that government regulation of business generally hurts consumer interests, even when it is meant for their benefit.
In 1977, Stigler founded the Center for the Study of the Economy and the State at the Univ. of Chicago.
  More results at FactBites »


 

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