On October 13, 1992, the Royal Swedish Academy announced the award of the Nobel Prize in economic sciences to Gary S. Becker, a senior fellow at the Hoover Institution and University Professor of Economics and Sociology at the University of Chicago. In announcing the award, Gary was cited for Extending "the domain of microeconomic analysis to a wide range of human behavior and interaction, including nonmarket behavior." In the lecture he delivered as part of the 1992 Nobel Prize award ceremony, Gary discussed four topics--discrimination against minorities, crime and punishment, the development and accumulation of human capital, and the structure of families--that are emblematic of his innovative approach to the economic analysis of social issues.
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2 of 2 people found the following review helpful:
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Economic insights into Social Policy,
By
This review is from: The Economic Way of Looking at Behavior: The Nobel Lecture (Essays in Public Policy) (Paperback)
Becker speaks in his Nobel lecture on four areas in which his work has centered. investments in human capital
behavior of the family (or household), including distribution of work and allocation of time in the family,crime and punishment,discrimination on the markets for labor and goods. One of his areas of focus is on the rising value of time due to economic growth. He explains lower fertility rates on this basis.He also analyses divorce data and makes the conclusion that more wealthy families have fewer divorces precisely because the cost to them is much greater. He makes observations about Crime which see the activity as often being the result of a rational calculus. He analyses the situations of minorities in societies and says when a minority is a small one dicrimination harms it, and not the larger society. But when a minority becomes large enough discrimination proves detrimental to minority and majority alike. I do not have the tools to truly analyze or even understand Becker's work. Thus all I have done here is to mention a few of the major points of his work. Becker at an economics panel discussion at the University of Chicago in 2003 [edit]
1 of 4 people found the following review helpful:
4.0 out of 5 stars
What is Economics?,
This review is from: The Economic Way of Looking at Behavior: The Nobel Lecture (Essays in Public Policy) (Paperback)
Becker has written his view over the scope and method of economic analysis. And he argues that economics is a particular way in analyzing human behavior. This is an excellent presntation on the meaning of economics.
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- The Rule of Law in America by Professor Ronald A. Cass in Back Matter
- The Rule of Law in America by Ronald A. Cass in Back Matter
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