[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"archetype-name-map":3,"thinker-george-stigler":100,"$fhn1duq74qtd":124,"thinker-stance-george-stigler":113},[4,7,10,13,16,19,22,25,28,31,34,37,40,43,46,49,52,55,58,61,64,67,70,73,76,79,82,85,88,91,94,97],{"slug":5,"name":6},"trad-socialist","Trad Socialist",{"slug":8,"name":9},"classical-liberal","Classical Liberal",{"slug":11,"name":12},"techno-authoritarian","Techno-Authoritarian",{"slug":14,"name":15},"moderate-conservative","Moderate Conservative",{"slug":17,"name":18},"national-populist","National Populist",{"slug":20,"name":21},"conservative-democrat","Conservative Democrat",{"slug":23,"name":24},"reform-conservative","Reform Conservative",{"slug":26,"name":27},"left-nationalist","Left Nationalist",{"slug":29,"name":30},"democratic-socialist","Democratic Socialist",{"slug":32,"name":33},"left-libertarian","Left Libertarian",{"slug":35,"name":36},"compassionate-libertarian","Compassionate Libertarian",{"slug":38,"name":39},"market-liberal","Market Liberal",{"slug":41,"name":42},"patriotic-progressive","Patriotic Progressive",{"slug":44,"name":45},"traditionalist","Traditionalist",{"slug":47,"name":48},"progressive-activist","Progressive Activist",{"slug":50,"name":51},"techno-progressive","Techno-Progressive",{"slug":53,"name":54},"pragmatic-centrist","Pragmatic Centrist",{"slug":56,"name":57},"independent-thinker","Independent Thinker",{"slug":59,"name":60},"traditional-libertarian","Traditional Libertarian",{"slug":62,"name":63},"national-conservative","National Conservative",{"slug":65,"name":66},"social-liberal","Social Liberal",{"slug":68,"name":69},"market-socialist","Market Socialist",{"slug":71,"name":72},"welfare-nationalist","Welfare Nationalist",{"slug":74,"name":75},"authoritarian-right","Authoritarian Right",{"slug":77,"name":78},"authoritarian-left","Authoritarian Left",{"slug":80,"name":81},"moderate-liberal","Moderate Liberal",{"slug":83,"name":84},"civil-libertarian","Civil Libertarian",{"slug":86,"name":87},"christian-socialist","Christian Socialist",{"slug":89,"name":90},"religious-conservative","Religious Conservative",{"slug":92,"name":93},"establishment-progressive","Establishment Progressive",{"slug":95,"name":96},"anarcho-capitalist","Anarcho-Capitalist",{"slug":98,"name":99},"neoconservative","Neoconservative",{"thinker":101,"archetypes":114,"traditions":118,"traditionLinks":119,"homeOut":120,"homeIn":121,"works":122,"homeTradition":113,"siblings":123},{"id":102,"slug":103,"name":104,"one_line":105,"bio":106,"birth_year":107,"death_year":108,"nationality":109,"primary_role":110,"era":111,"portrait_url":112,"figure_class":113},1293,"george-stigler","George Stigler","George Stigler was an American economist and 1982 Nobel laureate whose theory of economic regulation held that industries often acquire regulation and see it run for their own benefit.","George Stigler was born in 1911 in Renton, near Seattle, the only child of immigrants from Bavaria and Austria-Hungary. He graduated from the University of Washington in 1931, spent a year at Northwestern, and received his Ph.D. from the University of Chicago in 1938 with a thesis, supervised by Frank Knight, on the history of production and distribution theories. He named Knight, Jacob Viner and Henry Simons as the teachers who shaped him, and fellow students W. Allen Wallis and Milton Friedman as equal influences. He taught at Iowa State, Minnesota and Brown, worked with the Statistical Research Group at Columbia during the war, and was on the Columbia faculty from 1947 to 1958 before returning to Chicago for the rest of his career.\n\nMuch of Stigler's work tested price theory against data. He proposed the survivor method for estimating the efficient size of firms, and his interest in why the same good sells at different prices led to \"The Economics of Information\" (1961), which explained that dispersion by counting the cost of searching for prices. The Nobel committee later described him as the founder of the economics of information.\n\nHis study of regulation began with its effects. In the 1940s he examined rent control and minimum-wage laws, and a 1962 study with Claire Friedland found that regulation of electricity prices had only a tiny effect on those prices. He then turned to its causes, a line of inquiry he traced to conversations with his friend Aaron Director. In \"The Theory of Economic Regulation\" (1971) he stated a central thesis: \"as a rule, regulation is acquired by the industry and is designed and operated primarily for its benefit.\" The Nobel committee noted that this approach made legislation an endogenous part of the economic system, shaped by the same optimizing behavior as markets.\n\nThe Royal Swedish Academy of Sciences awarded him the 1982 prize in economic science \"for his seminal studies of industrial structures, functioning of markets and causes and effects of public regulation.\" He was president of the Mont Pelerin Society from 1976 to 1978, and he kept up a lifelong interest in the history of economics, along with a large book collection. Discussing the benefits of capitalism, he once wrote: \"Professors are much more beholden to Henry Ford than to the foundation that bears his name and spreads his assets.\" Stigler died in 1991.",1911,1991,"American","economist","20th Century","\u002Fimages\u002Ffigures\u002Fwebp\u002Fgeorge-stigler.webp",null,[115],{"archetype_slug":8,"strength":116,"description":117},8,"When a licensing board or rate commission ends up shielding the firms it oversees, you already suspect why. Stigler's 1971 theory held that, as a rule, an industry acquires its regulation and sees it run mainly for its own benefit, and he tested that claim against the data.",[],[],[],[],[],[],{"cards":125,"influenced":126,"shapedBy":127,"outbound":128},[],[],[],0]