Theodore Schultz
| Theodore Schultz | |
|---|---|
 |
|
| Born |
April 30, 1902 Arlington, South Dakota, United States |
| Died | 26 February 1998 (aged 95) Evanston, Illinois, United States |
| Nationality | United States |
| Institution |
Iowa State University University of Chicago |
| Field | Agricultural economics |
| School or tradition |
Chicago school of economics |
| Alma mater |
South Dakota State University University of Wisconsin-Madison |
| Awards | Nobel Memorial Prize in Economic Sciences (1979) |
| Information at IDEAS / RePEc | |
Theodore William "Ted" Schultz (30 April 1902 – 26 February 1998) was an American economist, Nobel Laureate, and chairman of the Chicago School of Economics. Schultz rose to national prominence after winning the 1979 Nobel Memorial Prize in Economic Sciences.
Theodore William Schultz was born on April 30, 1902 ten miles northwest of Badger, South Dakota on a 560-acre farm. When Schultz was in eighth-grade, his father Henry decided to pull him out of Kingsbury County Schoolhouse No. 19. His father’s view was that if his eldest son left the farm and continued to get an education he would be less inclined to continue working on the farm. Schultz subsequently did not have any formal post-secondary education. Schultz eventually enrolled in the Agriculture School at South Dakota State, in a three-year program that met for four months a year during the winter. Schultz moved on to a bachelor’s program later, earning his degree in 1928 in agriculture and economics. He also would receive an honorary doctorate of science degree from the College in 1959. He graduated in 1927, then entered the University of Wisconsin–Madison earning his doctorate in Agricultural Economics in 1930 under Benjamin H. Hibbard with the thesis, entitled The Tariff in Relation to the Coarse-Feed Grains and a Development of Some of the Theoretical Aspects of Tariff Price Research.
Schultz married Esther Florence Werth (1905–1991) in 1930. She was born and raised on a farm near Frankfort, South Dakota of German parents, who encouraged her to pursue schooling. Werth would be the first in her family to attend college, receiving a bachelor's degree in commercial science from South Dakota State College in Brookings in 1927, and subsequently worked as a school teacher in Waubay from 1927 to 1929 and then in Gregory from 1929 to 1930. Werth shared Schultz’s background in agriculture and commitment to ideals of education and economic development, and throughout his career worked as a primary editor of his published works. In his Nobel Prize Lecture he acknowledged her contributions thusly: "I am also indebted to my wife, Esther Schultz, for her insistence that what I thought was stated clearly was not clear enough.” The couple was survived by two daughters and one son.
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