Sargent, Thomas J.

Sargent, Thomas J.

(1943–  ) economist; born in Pasadena, Calif. Along with Robert E. Lucas Jr., he cofounded the "new" classical macroeconomics. His work stressed a "natural rate of unemployment" and emphasized that departures from that natural rate are completely random. He taught at the University of Minnesota (1975–87) before joining the Hoover Institution, Stanford University (1987).
The Cambridge Dictionary of American Biography, by John S. Bowman. Copyright © Cambridge University Press 1995. Reproduced with permission.