Stigler, George Joseph
Stigler, George Joseph, 1911–91, American economist, b. Renton, Wash., Ph.D. Univ. of Chicago, 1938. A professor at Univ. of Chicago from 1958, Stigler wrote about the economics of information. He explored the cost-benefit aspects of obtaining economic information in a highly competitive society, where a number of suppliers may offer a wide range of prices. In other works, he argued that government regulation of business generally hurts consumer interests, even when it is meant for their benefit. In 1977, Stigler founded the Center for the Study of the Economy and the State at the Univ. of Chicago. For his work on market structure and regulation, he was awarded the Nobel Memorial Prize in Economic Sciences in 1982.
The Columbia Electronic Encyclopedia, 6th ed. Copyright © 2012, Columbia University Press. All rights reserved.
See more Encyclopedia articles on: Economics: Biographies