Theodore William Schultz (April 30, 1902 – February 26, 1998) was the 1979 winner (jointly with William Arthur Lewis) of the Nobel Memorial Prize in Economic Sciences.
He was born in Arlington, South Dakota, enrolled in South Dakota State College in 1921 to study agriculture, graduated in 1927, then entered the University of Wisconsin–Madison earning his doctorate in Agricultural Economics in 1930.
He taught at Iowa State College from 1930 to 1...
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Theodore William Schultz (April 30, 1902 – February 26, 1998) was the 1979 winner (jointly with William Arthur Lewis) of the Nobel Memorial Prize in Economic Sciences.
He was born in Arlington, South Dakota, enrolled in South Dakota State College in 1921 to study agriculture, graduated in 1927, then entered the University of Wisconsin–Madison earning his doctorate in Agricultural Economics in 1930.
He taught at Iowa State College from 1930 to 1943, and then moved to the University of Chicago. He later became president of the American Economic Association. He died in Evanston, Illinois in 1998.
Schultz was awarded the Nobel Prize for his work in development economics, focusing on the economics of agriculture. He analysed the role of agriculture within the economy, and his work has had far reaching implications on industrialisation policy, both in developing and developed nations. Schultz also promulgated the idea of educational capital, an offshoot of the concept of human capital,...
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