Schultz, Theodore W.

Schultz, Theodore W.,

1902–, American economist; b. Arlington, S.Dak. He taught at Iowa State College (1930–43) and the Univ. of Chicago (1943–61). A specialist in agricultural economics and the economic problems of developing countries, he shared the 1979 Nobel Memorial Prize in Economic Sciences with Sir Arthur LewisLewis, Sir Arthur
(Sir William Arthur Lewis), 1915–91, British economist, b. St. Lucia. A graduate (1940) of the London School of Economics, he was later a professor of economics at the Univ. of Manchester (1948–58) and at Princeton (1963–83).
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. His books include Economic Growth and Agriculture (1968).
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Schultz, Theodore W. (William)

(1902–  ) economist; born in Arlington, S.D. He is best known for his contributions to agricultural economics, his promotion of the human capital theory, and his views on the economics of the family. First focusing his work on U.S. agriculture, he later expanded his work to include the agricultural problems of developing countries. He was part of the "Chicago school" of economic thought as a professor at the University of Chicago (1943–74). After his retirement in 1974, he served as a consultant to the United Nations and in 1980 he shared the Nobel Prize in economics with W. Arthur Lewis.
The Cambridge Dictionary of American Biography, by John S. Bowman. Copyright © Cambridge University Press 1995. Reproduced with permission.