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George Stigler (Stigler)

( The American economist)

Comments for George Stigler (Stigler)
Biography George Stigler (Stigler)
genus. January 17, 1911, Mr..

Memory of the Nobel Prize in Economics, 1982.

American economist George Stigler was born in Renton, a suburb of Seattle, Washington. He was the only son of Joseph Stigler, a real estate agent, and Elizabeth Stigler (nee Hungier), who immigrated to America, respectively, from Bavaria and Austria-Hungary. After graduating from high school in Seattle with. graduated from the University of Washington, received in 1931. Bachelor of Economics. The following year, Northwestern University awarded him a master's degree, after which he enrolled in a doctorate in economics at the University of Chicago. As he said later, 'it was the middle of the Depression, and this time it was preferable to learn what to look for work'. In Chicago, a C. heavily influenced by economists Frank Knight, Jacob Viner and Henry Simons, and his classmates Allen Wallis and Milton Friedman.

With. began his teaching career in 1936. as an assistant professor at the University of Iowa. In 1938, after being awarded the doctorate thesis for the University of Chicago 'Theories of production and distribution' ( "Production and Distribution Theories"), C. joined the faculty of the University of Minnesota, where he worked for eight years, rising to the position of full (real) Professor. During the Second World War, he worked as a consultant group of statistical studies at Columbia University. In 1946, Mr.. he moved to of Brown, and in 1947. - Columbia University. After eleven years of work at Columbia University, he was appointed Professor of American Institutions at the University of Chicago, which became his permanent place of work. Throughout his long work in the University of Chicago, he founded the upscale course in industrial organizations, was editor of the university 'Journal of politician economy' ( "Journal of Political Economy").

During the 40-bit and 50-ies. S. published a lot of problematic articles and books on applied microeconomics and industrial organizations. In the article 'Roofs or ceilings' ( "Roofs or Ceilings"), . written with Milton Fridmenom in 1946, . He argued, . that control over rents, . established during the war and persisted in some cities after it, . leads to housing shortage, . poor quality of construction and inadequate care housing fund,
. Much criticized at the time of their conclusions now universally recognized by the liberals and conservatives. Some of the monograph, . written for the National Bureau of Economic Research (NBER), . Concern had been used by different types of labor, . in which The influence of labor laws, . example the law on minimum wage, . employment,
. Countless students and graduate students studying microeconomics textbook, it is written on 'price theory' ( "The Theory of Price"), the first edition of which was published in 1947.

In 1949, Mr.. S. criticized the theory of 'monopolistic competition' - the doctrine, associated with the name of the economist Edward Chamberlin and the so-called Harvard school of industrial organization. S. argued, . that the theory of Chamberlin, . although, . his recognition, . and gave a more realistic, . than previous, . image of the industrial structure, . little godilas to predict, . without having to make almost nothing new compared to, . that have stemmed from diametrically opposite models of perfect competition and pure monopoly, . which served as standard tools of the theory of pricing,
. In his essay 'The division of labor is limited to the size of the market' ( "The Division of Labor Is Limited by the Extent of the Market", . 1951), he further developed the position of Adam Smith, . that the size of the firm are limited to transportation costs and population density,

In another essay - 'economies of scale' ( "The Economies of Scale", 1958) - he introduced the science of economics 'principle of survival', which became an integral part of the theory of industrial organization. S. defined the 'minimum scale of efficiency', . ensures survival, . as the smallest value of the company (measured in units of production or the employed labor force), . able to remain in production after the change, . occurring in technology and market situation,
. For example, the introduction of new industrial technology may allow large enterprises to become profitable. In this case, the minimum scale of efficiency in the steel industry will increase. Although the statistics were often very limited, 'the principle of survival' is increasingly used in the analysis of industrial organization.

Article C. 'Business Information', ( "The Economics of Information"), which appeared in 1961,. in the 'Journal of politician economy' ( "Journal of Political Economy"), . contained a deceptively simple question: how long and how strongly the consumer should look for products with the lowest price? C. A: until the costs of the duration or intensity of such a search does not exceed the size of the expected savings from buying at a lower price,
. While this answer may seem obvious, method C. provided a model for the study of information problems in the economy and brought with it a new approach to the theory of market behavior. According to S., uncertainty should not be regarded as something given, as well as the degree of ignorance, which can be reduced - as a result of certain costs - the acquisition of information. This approach has had a tremendous impact on the economic analysis, . as theoretical, . and empirical, . and was used in various fields - from the study of consumer behavior, . variation in prices in the advertising business to look for work in the stockpile,

During the 60's and 70-ies. S. continued to develop the theory of industrial organization. The paper 'The theory of oligopoly' ( "A Theory of Oligopoly", 1964), for example, he showed how the imposition of secret agreements limiting the success of cartels. The validity of this proves the problems facing the country - the Petroleum Exporting Countries (OPEC) in the 80-ies. Other work - 'The behavior of industrial prices' ( "The Behavior of Industrial Prices"), - commissioned by NBER in 1968. with economist James Kindalev, . showed, . that the apparent stability of the prices of non-competitive markets is a fiction, . because the list price in reality are much more stable, . than the real prices, . which the transaction occurs,

Gradually, with the interests. again moved from the sphere of pure theory of economic regulation. Dissatisfied with the prevailing perceptions that regulatory agencies act in the interests of society, he put forward the 'capture theory' in the regulation. According to this theory, regulation, contrary to what is included in the intention of the departments of state, rather than protect the interests of the consumer, and industrial enterprises themselves from new competition. For example, attempts to interstate trade commission to restrict the movement of trucks between the states has benefited not the public, and railway companies. Theory of regulation of C., . represents the pioneering work of an interdisciplinary nature, . connecting the right and the economy, . showed, . that the analysis of politico-economic organization of the state explains, . how and why we introduce regulation of industry,

While many of the views of the C. the issue of deregulation have been embodied in the life of President Jimmy Carter and Ronald Reagan, he defended his status as an independent scientist. 'I do not belong to the school Reaganomics - he declared - as do not keep the supply side. But I think that it would be just great ease excessive government pressure on production '.

An important, albeit low-key area of work. a history of economic thought. He became a recognized world authority on the interpretation of ideas, works and personal destinies of academic economics of the past. He is also a passionate promoter of the ideas and enjoys an excellent reputation for its ability to transfer these ideas in community activities. 'The first law of sympathy Stigler', . example, . measured quantitatively the degree of (fictional) human sympathy towards his own problems (27 units per minute) compared with decreasing sympathy for the people, . which are separated from it geographically or socially (quantitative degree is numerically non-measurable),

With. was awarded the Nobel Memorial Award in Economics for 1982. for 'innovative studies of industrial structures, functioning of markets, the causes and results of state regulation'. In his Nobel lecture with. applied his 'theory of search' 1961. to what he called 'the market for new ideas' in economics. 'Most economists - he said - appear not as producers of new ideas, but only as their consumers. Their task is similar to a car buyer's task: to find a reliable model. In fact, they usually end up buying used, and therefore, tested ideas'.

In contrast, Kenneth Arrow, Gerard Debreu, Paul Samuelson and P. avoids the use of mathematics in their work, preferring literary style, has been universally recognized for the clarity, elegance of presentation and erudition. For C. clear and simple economic theory is needed as a basis for testing hypotheses by empirical studies. Few of the economists with a productivity of the demonstrated usefulness of microeconomic theory to the data, . how did he, . example in the 'Capital and the rate of return in manufacturing industries' ( "Capital and Rates of Return in Manufacturing Inductries", . 1963),

In 1963, Mr.. Stigler married Margaret Mack, fellow students at the University of Chicago. They have three sons.

Although Stigler in 1981. retired as professor of American institutions, he continued his work in the University of Chicago. The former president of the American Economic Association (1964) and the Society of History of Economics (1977), he is also a member of the U.S. National Academy of Sciences and the American Philosophical Society. He was awarded honorary doctorates at Carnegie - Mellon University, Rochester, Brown, and the Helsinki School of Economics.

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