Shultz, George Pratt(redirected from George P. Shultz)
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Shultz, George Pratt,1920–, American public official, b. New York City, grad. Princeton, 1942, Ph.D., Massachusetts Institute of Technology, 1949. A professor of industrial relations, Shultz taught at the Massachusetts Institute of Technology (1946–57) and the Univ. of Chicago (1957–68). Under President Richard Nixon, he served as secretary of labor (1969–70), director of the Office of Management and Budget (1970–72), and secretary of the treasury (1972–74). After several years in private business, he served as secretary of state (1982–89) in President Ronald Reagan's administration. Known for his ability to effect compromises, he was criticized for failing to oppose more strongly the operations that led to the Iran-contra affairIran-contra affair,
in U.S. history, secret arrangement in the 1980s to provide funds to the Nicaraguan contra rebels from profits gained by selling arms to Iran. The Iran-contra affair was the product of two separate initiatives during the administration of President Ronald
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