Economist. He won the 1979 Nobel Prize in Economics for his work emphasizing the role of modernized agriculture in boosting the development of national economies. Schultz also proposed theories surrounding "human capital," the idea that investing in the people through education, health care and adequate nutrition is a necessary and cost-effective step toward building a productive society. As the chair of economics at the University of Chicago from 1946 to 1961, his influence had a profound effect on international development and industrialization, with an emphasis on the establishment of modernized agriculture as the industrial base. The author of 10 books on economics and economic theory, Schultz was also the president of the American Economic Association in 1960, and his work on educational capital and human capital has been carried forward through organizations such as the International Monetary Fund and the World Bank.
Economist. He won the 1979 Nobel Prize in Economics for his work emphasizing the role of modernized agriculture in boosting the development of national economies. Schultz also proposed theories surrounding "human capital," the idea that investing in the people through education, health care and adequate nutrition is a necessary and cost-effective step toward building a productive society. As the chair of economics at the University of Chicago from 1946 to 1961, his influence had a profound effect on international development and industrialization, with an emphasis on the establishment of modernized agriculture as the industrial base. The author of 10 books on economics and economic theory, Schultz was also the president of the American Economic Association in 1960, and his work on educational capital and human capital has been carried forward through organizations such as the International Monetary Fund and the World Bank.
Bio by: Frank Crisler
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