Arnold Harberger
| Arnold Harberger | |
|---|---|
| Born |
July 27, 1924 Newark, New Jersey, U.S. |
| Residence | U.S. |
| Nationality | American |
| Fields | Economics |
| Institutions |
UCLA 1984– University of Chicago 1953–91 Johns Hopkins University 1949–53 |
| Alma mater |
University of Chicago MA 1947, PhD 1950 Johns Hopkins University BA 1943 |
| Doctoral advisor | Lloyd Metzler |
| Doctoral students |
Gregory Chow Robert Lucas, Jr. Zvi Griliches Marc Nerlove Sebastián Edwards |
| Known for | Public finance |
Arnold Carl Harberger (born July 27, 1924) is an American economist. Harberger's Triangle, widely used in welfare economics, is named after him.
Harberger completed his B.A. in economics at Johns Hopkins University, and his MA in international relations in 1947 and his Ph.D. in economics in 1950, both at the University of Chicago. After teaching at Johns Hopkins, Harberger returned to the University of Chicago to teach full-time, from 1953 to 1982, and part-time from 1984 to 1991. Since 1984, he has been a professor at the University of California, Los Angeles. He married Chilean Anita Valjalo in 1958. The two remained together until her death in 2011. Harberger speaks fluent Spanish. He is known for having close relationships with his past students, many of whom have held influential government posts in Latin America, especially Chile.
Harberger's PhD thesis, written under Lloyd Metzler, was on international macroeconomic theory, but his academic reputation is primarily based on his work in public finance, the economics of taxation. Harberger was awarded a honorary degree at Universidad Francisco Marroquin.
In 1954, Harberger published an article claiming that the welfare cost of monopoly in the US economy was unlikely to exceed 0.1% of US GDP. Harberger devised a rough estimate of the deadweight loss from monopoly, namely the producer and consumer's surplus that fails to materialize under monopoly. In the standard diagram, used to teach the theory of monopoly, the loss corresponds to the area of a triangle. Such triangles are now named in his honor, especially since Harberger (1971), a classic expository article on applied welfare economics that clearly highlighted the role of deadweight loss.
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