Recipient of the 1985 Nobel Prize for Economics for his path-breaking explanations of how people save and the role of debt in determining the value of corporations. He was born in Italy of Jewish Parents, he was schooled in Italy where he earned a law degree. By 1939, he had to flee Europe with his family and settle in New York City. He earned his Doctorate in Economics in 1944, and taught at several universities over the next 16 years. He settled at MIT in Cambridge, Massachusetts in 1960, and taught there until retiring in 1988. Even then, he continued to teach courses until the end of his life. He was a life-long Anti-Fascist.
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