Kenneth Joseph "Ken" Arrow was an American economist, mathematician and political theorist. He was the joint winner of the Nobel Memorial Prize in Economic Sciences with John Hicks in 1972. In economics, he was a major figure in post-World War II neo-classical economic theory. Many of his former graduate students have gone on to win the Nobel Memorial Prize themselves, his most significant works are his contributions to social choice theory, notably "Arrow's impossibility theorem", his work on general equilibrium analysis. He has provided foundational work in many other areas of economics, including endogenous growth theory and the economics of information. Arrow was born on 23 August 1921, in New York City. Arrow's mother, was from Iași, his father, Harry Arrow, was from nearby Podu Iloaiei; the Arrow family were Romanian Jews. His family was supportive of his education. Growing up during the Great Depression, he embraced socialism in his youth, he would move away from socialism, but his views retained a left-leaning philosophy.
He graduated from Townsend Harris High School and earned a Bachelor's degree from the City College of New York in 1940 in mathematics, where he was a member of Sigma Phi Epsilon. He attended Columbia University, for his graduate studies. While there, he studied under Harold Hotelling, was influenced by him, he received a Master's degree in 1941. He served as a weather officer in the United States Army Air Forces from 1942 to 1946. From 1946 to 1949 Arrow spent his time as a graduate student at Columbia and as a research associate at the Cowles Commission for Research in Economics at the University of Chicago. During that time he held the rank of Assistant Professor in Economics at the University of Chicago and worked at the RAND Corporation in California, he left Chicago to take up the post of Acting Assistant Professor of Economics and Statistics at Stanford University. In 1951, he earned his Ph. D. from Columbia. He served in the government on the staff of the Council of Economic Advisers in the 1960s with Robert Solow.
In 1968, he left Stanford for the position of Professor of Economics at Harvard University. It was during his tenure. Arrow returned to Stanford in 1979 and became the Joan Kenney Professor of Economics and Professor of Operations Research, he retired in 1991. As a Fulbright Distinguished Chair, in 1995 he taught Economics at the University of Siena, he was a founding member of the Pontifical Academy of Social Sciences and a member of the Science Board of Santa Fe Institute. At various stages in his career he was a Fellow of Cambridge. Five of his former students have gone on to become Nobel Prize winners; these include John Harsanyi, Michael Spence and Roger Myerson. A collection of Arrow's papers is housed at the Rubenstein Library at Duke University. Arrow's monograph Social Choice and Individual Values derives from his 1951 Ph. D. thesis. If we exclude the possibility of interpersonal comparisons of utility the only methods of passing from individual tastes to social preferences which will be satisfactory and which will be defined for a wide range of sets of individual orderings are either imposed or dictatorial.
In what he named the General Impossibility Theorem, he theorized that it was impossible to formulate a social preference ordering that satisfies all of the following conditions: Nondictatorship: The preferences of an individual should not become the group ranking without considering the preferences of others. Individual Sovereignty: each individual should be able to order the choices in any way and indicate ties Unanimity: If every individual prefers one choice to another the group ranking should do the same Freedom From Irrelevant Alternatives: If a choice is removed the others' order should not change Uniqueness of Group Rank: The method should yield the same result whenever applied to a set of preferences; the group ranking should be transitive. The theorem has implications for welfare theories of justice, it was extended by Amartya Sen to the liberal paradox which argued that given a status of "Minimal Liberty" there was no way to obtain Pareto optimality, nor to avoid the problem of social choice of neutral but unequal results.
Work by Arrow and Gérard Debreu and simultaneous work by Lionel McKenzie offered the first rigorous proofs of the existence of a market clearing equilibrium. For this work and his other contributions, Debreu won the 1983 Nobel Prize in Economics. Arrow went on to extend its analysis to include uncertainty, the stability, his contributions to the general equilibrium theory were influenced by Adam Smith's Wealth of Nations. Written in 1776, The Wealth of Nations is an examination of economic growth brought forward by the division of labor, by ensuring interdependence of individuals within society. In 1974, The American Economic Association published the paper written by Kenneth Arrow, General Economic Equilibrium: Purpose, Analytic Techniques, Collective Choice, where he states: From the time of Adam Smith's Wealth of Nations in 1776, one recurrent theme of economic analysis has been the remarkable degree of coherence among the vast numbers of individual and separate decisions about the buying and selling of commodities.
In everyday, normal experience, there is something of a balance between the amounts of goods and services that some individuals want to supply and the amounts that other, different individuals want to sell. Would-be buyers ordinarily count on being able to carry out their intentions, would-be sellers do not ordinarily find themselves producing great amounts of goods that they cannot sell; this exp
Gary Stanley Becker was an American economist and empiricist. He was a professor of economics and sociology at the University of Chicago. Described as "the most important social scientist in the past 50 years" by The New York Times, Becker was awarded the Nobel Memorial Prize in Economic Sciences in 1992 and received the United States Presidential Medal of Freedom in 2007. A 2011 survey of economics professors named Becker their favorite living economist over the age of 60, followed by Ken Arrow and Robert Solow. Becker was one of the first economists to branch into what were traditionally considered topics that belonged to sociology, including racial discrimination, family organization, drug addiction, he was known for arguing that many different types of human behavior can be seen as rational and utility maximizing. His approach included altruistic behavior of human behavior by defining individuals' utility appropriately, he was among the foremost exponents of the study of human capital. Becker was credited with the "rotten kid theorem."
Born to a Jewish family in Pottsville, Becker earned a B. A. at Princeton University in 1951, a Ph. D. at the University of Chicago in 1955 with a thesis entitled The Economics of Racial Discrimination. At Chicago, Becker was influenced by Milton Friedman, whom Becker called "by far the greatest living teacher I have had". Before turning 30, he began to teach at Columbia University in 1957, in 1970 returned to the University of Chicago. In 1965 he was elected as a Fellow of the American Statistical Association. Becker was a founding partner of a business and philanthropy consulting company. Becker won the John Bates Clark Medal in 1967, he was elected a Fellow of the American Academy of Arts and Sciences in 1972, was a member of the Mont Pelerin Society. Becker received the National Medal of Science in 2000. A political conservative, he wrote a monthly column for Business Week from 1985 to 2004, alternating with liberal Princeton economist Alan Blinder. In 1996 Becker was a senior adviser to Republican Presidential Candidate Robert Dole.
In December 2004, Becker started a joint weblog with Judge Richard Posner entitled The Becker-Posner Blog."The Becker-Posner Blog". Uchicagolaw. University of Chicago Law School. Becker's first wife was Doria Slote, from 1954 until her death in 1970; the marriage produced Catherine Becker and Judy Becker. About ten years in 1980 Becker married Guity Nashat, a historian of the Middle East whose research interests overlapped his own. Becker had Cyrus Claffey and Michael Claffey, from his second marriage. Becker died in Chicago, aged 83, on May 3, 2014, after complications from surgery at Northwestern Memorial Hospital. In 2014 he was honored in a three-day conference organized at the University of Chicago. Becker received the Nobel Prize in 1992 "for having extended the domain of microeconomic analysis to a wide range of human behavior and interaction, including nonmarket behavior". Becker wrote his dissertation in 1955 at the University of Chicago, which examined the economics of discrimination. At the time, economics was the study of market behavior and market economies.
Becker challenged the past era of economics by bringing a new investigation of social matters to economics. Becker's contribution to discrimination was unpopular with people arguing that his theory was not economics, he used the international trade model for his analysis on The Economics of Discrimination. In 1957, the publication of his thesis was the study of the market, he believed both groups can be harmed. The discriminating firm can limit its own profitability. Becker included a variable of taste for discrimination in explaining behavior, he believes that people mentally increase the cost of a transaction if it is with a minority against which they discriminate. His theory held. If firms were able to specialize in employing minorities and offer a better product or service, such a firm could bypass discrepancy in wages between productive blacks and whites or productive females and males, his research found that when minorities are a small percentage the cost of discrimination falls on the minorities.
However, when minorities represent a larger percentage of society, the cost of discrimination falls on both the minorities and the majority. He pioneered research on the impact of self-fulfilling prophecies of teachers and employers on minorities; such attitudes lead to less investment in productive skills and education of minorities. Becker recognized that people sometimes do not want to work with minorities because they have preference against the disadvantaged groups, he goes on to say that discrimination increases the cost of the firm because in discriminating against certain workers, the employer would have to pay more so that work can proceed without them. If the employer employs the minority, low wages can be provided, but more people can be employed, productivity can be increased. Becker is famous for his economic analysis of democracy, he asked. He considered this exploitation to be deadweight loss; as Palda explains According to Becker, political equilibrium exists in non-democratic societies.
It arises out of a simple calculation that predatory interest groups and their taxpaying victims make: what return on my investment can I get by lobbying government? Becker's insight is that the gains to predators are linear, but the
Eleanor J. Gibson
Eleanor Jack Gibson was an American psychologist who focused on reading development and perceptual learning in infants and toddlers. In the 1960s and 1970s Gibson, with her husband James J. Gibson, created the Gibsonian ecological theory of development which emphasized how important perception was because it allows humans to adapt to their environments, her most well-known contribution to psychology was the "visual cliff", which studied depth perception and visual or motor impairments in both human and animal species. This led to a new understanding of perceptual development in infants; the environment provides information for the sensory system to develop with increased stimuli, so perceptual development corresponds with environmental stimuli. Infants develop from adapting to the environment. Gibson was elected to the National Academy of Sciences in 1971 and as a fellow of the American Academy of Arts and Sciences in 1977. In 1992 she was awarded the National Medal of Science, the highest scientific honor in the United States, only five of which have been awarded to psychologists.
Eleanor J. Gibson was born in Peoria, Illinois on December 7, 1910. While much of her early life is unknown, Gibson received her B. A. degree in 1931 and her M. S. degree in 1933 from Smith College in Massachusetts. While studying at Smith College Gibson met James J. Gibson, a professor there whom she married in 1932. In 1938, she completed her Ph. D. from Yale University. Once completed, Gibson began teaching. In 1941 Gibson's husband was drafted by the Air Force to make perceptual tests for some of their pilots so Gibson, her husband and their two children moved to Texas and on to California. Throughout this time Gibson was a homemaker but returned to work at Smith College for a few years before she and her family left for Cornell University, where she was a research associate. While at Cornell she created the "Visual Cliff" alongside Richard Walk, a professor at Cornell. Gibson died on December 30, 2002. 1960's-1970's: Gibson, alongside her husband, created the Gibsonian ecological theory of development.
1960: Gibson created the "Visual cliff". 1971: Gibson was elected to the National Academy of Sciences. 1972: Gibson was named Susan Linn Sage Professor of Psychology, which made her become the first woman at Cornell to get an endowed professorship. 1977:Gibson was elected a fellow of the American Academy of Arts and Sciences. 1992: Gibson was awarded the National Medal of Science, the highest scientific honor in the United States. Gibson believed. Gibson worked with her husband James on a joint study to explore the perception of nonsense scribbles to clarify this concept of perceptual learning; the participants were tasked to identify one standard scribble from a set of similar scribbles varying in many different dimensions. At first the standard scribble was imperceptible from the other scribbles but after repeated tests the standard scribble became clear; the participants were tested until the standard was identified without any correction given. The Gibson's stated that the stimulus held all the information for perception rather than the participants learning to perceive through an associative process.
This resulted in perceptual learning as being redefined as a change in what was perceived by an observer became more sensitive to the different aspects of a stimulus. Gibson was conducting a study on infant-mother olfactory role in bonding in goats and so she would wash one of them after birth before the mother could lick it, she had just finished washing one. In a hurry Gibson decided to put the kid on a high camera stand nearby. Gibson was surprised that the newborn didn't fall off; this led her to discover the visual cliff and do further research on perceptual learning. During a study with Richard Walk in which they looked at the role of the environment in development of rats, Gibson came up with the idea of a second task. Gibson wanted to test the depth perception of rats; this Walk constructing an artificial cliff. This was a sheet of plexiglass, covered by cloth with a checkerboard pattern, held above the ground with clamps and rods. One side of the cloth was placed just beneath the glass and on the other side the cloth was placed 4 feet below.
They watched what side the rats descended to. To Gibson's amazement the dark-reared rats acted the same way as rats reared in the light and avoided the deep side. Gibson tested lambs, chickens, pigs and newborn children on a larger apparatus which led to the same results; these tests led to the belief. Kittens that were raised in the dark would walk indiscriminately on both sides of the visual cliff, therefore learning from the environment had to occur. Gibson, E. J.. Principles of perceptual learning and development. New York: Meredith Corporation. Gibson, E. J.. An odyssey in learning and perception. Cambridge: MIT Press. Gibson, E. J. & Walk, R. D.. The "visual cliff." Scientific American, 202, 67-71. Gibson, E. J. & Pick, A. D.. Perceptual learning and development: An ecological approach to perceptual learning and development. Oxford: Oxford Universityn Press. Gibson, E. J, & Levin, H.. Psychology of reading. Cambridge, MA: MIT Press. Gibson, E. J.: Perceiving the Affordances: A Portrait of Two Psychologists.
Psychology Press. Caudle, F. M.. Gibson, Eleanor J. In A. E. Kazdin, A. E. Kazdin, Encyclopedia of Psychology, Vol. 3. Washington, DC, US.
Robert Merton Solow, GCIH, is an American economist known for his work on the theory of economic growth that culminated in the exogenous growth model named after him. He is Emeritus Institute Professor of Economics at the Massachusetts Institute of Technology, where he has been a professor since 1949, he was awarded the John Bates Clark Medal in 1961, the Nobel Memorial Prize in Economic Sciences in 1987, the Presidential Medal of Freedom in 2014. Four of his PhD students, George Akerlof, Joseph Stiglitz, Peter Diamond and William Nordhaus received Nobel Memorial Prizes in Economic Sciences in their own right. Robert Solow was born in Brooklyn, New York, into a Jewish family on August 23, 1924, the oldest of three children, he was well excelled academically early in life. In September 1940, Solow went to Harvard College with a scholarship at the age of 16. At Harvard, his first studies were in anthropology as well as elementary economics. By the end of 1942, Solow left the university and joined the U.
S. Army, he served in North Africa and Sicily, served in Italy during World War II until he was discharged in August 1945. He returned to Harvard in 1945, studied under Wassily Leontief; as his research assistant he produced the first set of capital-coefficients for the input–output model. He became interested in statistics and probability models. From 1949–50, he spent a fellowship year at Columbia University to study statistics more intensively. During that year he was working on his Ph. D. thesis, an exploratory attempt to model changes in the size distribution of wage income using interacting Markov processes for employment-unemployment and wage rates. In 1949, just before going off to Columbia he was offered and accepted an assistant professorship in the Economics Department at Massachusetts Institute of Technology. At M. I. T, he taught courses in econometrics. Solow's interest changed to macroeconomics. For 40 years and Paul Samuelson worked together on many landmark theories: von Neumann growth theory, theory of capital, linear programming and the Phillips curve.
Solow held several government positions, including senior economist for the Council of Economic Advisers and member of the President's Commission on Income Maintenance. His studies focused in the fields of employment and growth policies, the theory of capital. In 1961 he won the American Economic Association's John Bates Clark Award, given to the best economist under age forty. In 1979 he served as president of that association. In 1987, he won the Nobel Prize for his analysis of economic growth and in 1999, he received the National Medal of Science. In 2011, he received an honorary degree in Doctor of Science from Tufts University. Solow is the founder of the Cournot Centre. After the death of his colleague Franco Modigliani, Solow accepted an appointment as new Chairman of the I. S. E. O Institute, an Italian nonprofit cultural association which organizes international conferences and summer schools, he is a trustee of the Economists for Security. Solow's past students include 2010 Nobel Prize winner Peter Diamond, as well as Michael Rothschild, Halbert White, Charlie Bean, Michael Woodford, Harvey Wagner.
He is ranked 23rd among economists on RePEc in terms of the strength of economists who have studied under him. Solow was one of the signees of a 2018 amici curiae brief that expressed support for Harvard University in the Students for Fair Admissions v. Harvard lawsuit. Other signees of the brief include Alan B. Krueger, George A. Akerlof, Janet Yellen, Cecilia Rouse, as well as numerous others. Solow's model of economic growth known as the Solow-Swan neo-classical growth model as the model was independently discovered by Trevor W. Swan and published in "The Economic Record" in 1956, allows the determinants of economic growth to be separated into increases in inputs and technical progress; the reason these models are called "exogenous" growth models is the saving rate is taken to be exogenously given. Subsequent work derives savings behavior from an inter-temporal utility-maximizing framework. Using his model, Solow calculated that about four-fifths of the growth in US output per worker was attributable to technical progress.
Solow was the first to develop a growth model with different vintages of capital. The idea behind Solow's vintage capital growth model is that new capital is more valuable than old capital because new capital is produced through known technology. Within the confines of Solow's model, this known technology is assumed to be improving; the products of this technology are expected to be more productive as well as more valuable. The idea lay dormant for some time because Dale W. Jorgenson argued that it was observationally equivalent with disembodied technological progress, as advanced earlier in Solow, it was pushed forward in subsequent research by Jeremy Greenwood, Zvi Hercowitz and Per Krusell, who argued that the secular decline in capital goods prices could be used to measure embodied technological progress. They labeled the notion investment-specific technological progress. Solow approved. Both Paul Romer and Robert Lucas, Jr. subsequently developed alternatives to Solow's neo-classical growth model.
Since Solow's initial work in the 1950s, many more sophisticated models of economic growth have been proposed, leading to varying conclusions about the causes of economic growth. For example, rather than assuming, as Solow did, that people save at a given constant rate, subsequent
National Academy of Sciences
The National Academy of Sciences is a United States nonprofit, non-governmental organization. NAS is part of the National Academies of Sciences and Medicine, along with the National Academy of Engineering and the National Academy of Medicine; as a national academy, new members of the organization are elected annually by current members, based on their distinguished and continuing achievements in original research. Election to the National Academy is one of the highest honors in the scientific field. Members serve pro bono as "advisers to the nation" on science and medicine; the group holds a congressional charter under Title 36 of the United States Code. Founded in 1863 as a result of an Act of Congress, approved by Abraham Lincoln, the NAS is charged with "providing independent, objective advice to the nation on matters related to science and technology. … to provide scientific advice to the government'whenever called upon' by any government department. The Academy receives no compensation from the government for its services."
As of 2016, the National Academy of Sciences includes about 2,350 members and 450 foreign associates. It employed about 1,100 staff in 2005; the current members annually elect new members for life. Up to 84 members who are US citizens are elected every year. 190 members have won a Nobel Prize. By its own admission in 1989, the addition of women to the Academy "continues at a dismal trickle", at which time there were 1,516 male members and 57 female members; the National Academy of Sciences is a member of the International Council for Science. The ICSU Advisory Committee, in the Research Council's Office of International Affairs, facilitates participation of members in international scientific unions and serves as a liaison for U. S. national committees for individual scientific unions. Although there is no formal relationship with state and local academies of science, there is informal dialogue; the National Academy is governed by a 17-member Council, made up of five officers and 12 Councilors, all of whom are elected from among the Academy membership.
About 85 percent of funding comes from the federal government through contracts and grants from agencies and 15 percent from state governments, private foundations, industrial organizations, funds provided by the Academies member organizations. The Council has the ability ad-hoc to delegate certain tasks to committees. For example, the Committee on Animal Nutrition has produced a series of Nutrient requirements of domestic animals reports since at least 1944, each one being initiated by a different sub-committee of experts in the field for example on dairy cattle; the National Academy of Sciences meets annually in Washington, D. C., documented in the Proceedings of the National Academy of Sciences, its scholarly journal. The National Academies Press is the publisher for the National Academies, makes more than 5,000 publications available on its website. From 2004 to 2017, the National Academy of Sciences administered the Marian Koshland Science Museum to provide public exhibits and programming related to its policy work.
The museum's exhibits focused on infectious disease. In 2017 the museum closed and made way for a new science outreach program called LabX; the National Academy of Sciences maintains multiple buildings around the United States. The National Academy of Sciences Building is located at 2101 Constitution Avenue, in northwest Washington, D. C.. S. State Department; the building has a neoclassical architectural style and was built by architect Bertram Grosvenor Goodhue. The building is listed on the National Register of Historic Places. Goodhue engaged a team of artists and architectural sculptors including Albert Herter, Lee Lawrie, Hildreth Meiere to design interior embellishments celebrating the history and significance of science; the building is used for lectures, symposia and concerts, in addition to annual meetings of the NAS, NAE, NAM. The 2012 Presidential Award for Math and Science Teaching ceremony was held here on March 5, 2014. 150 staff members work at the NAS Building. In June 2012, it reopened to visitors after a major two-year restoration project which restored and improved the building's historic spaces, increased accessibility, brought the building's aging infrastructure and facilities up to date.
More than 1,000 National Academies staff members work at The Keck Center of the National Academies at 500 Fifth Street in northwest Washington, D. C; the Keck Center houses the National Academies Press Bookstore. The Marian Koshland Science Museum of the National Academy of Sciences – located at 525 E St. N. W. – hosted visits from the public, school field trips, traveling exhibits, permanent science exhibits. The NAS maintains conference centers in California and Massachusetts; the Arnold and Mabel Beckman Center is located on 100 Academy Drive in Irvine, near the campus of the University of California, Irvine. The J. Erik Jonsson Conference Center located at 314 Quissett Avenue in Woods Hole, Massachusetts, is another conference facility; the Act of Incorporation, signed by President Abraham Lincoln on March 3, 1863, created the National Academy of Sciences and named 50 charter members. Many of the original NAS members came from the so-called "Scientific Lazzaroni," an informal network of phy
Leonid "Leo" Hurwicz was a Polish-American economist and mathematician, known for his work in game theory and mechanism design. He originated the concept of incentive compatibility, showed how desired outcomes can be achieved by using incentive compatible mechanism design. Hurwicz shared the 2007 Nobel Memorial Prize in Economic Sciences for his seminal work on mechanism design. Hurwicz was the oldest economist to have become a Nobel Laureate, having received the prize at the age of 90. Hurwicz was educated and grew up in Poland, became a refugee in the United States after Hitler invaded Poland in 1939. In 1941, Hurwicz worked as a research assistant for Paul Samuelson at the Massachusetts Institute of Technology and Oskar Lange at the University of Chicago, he was a research associate for the Cowles Commission between 1942 and 1946. In 1946 he became an associate professor of economics at Iowa State College. Hurwicz joined the University of Minnesota in 1951, becoming Curtis L. Carlson Regents Professor of Economics in 1989.
He was Regents' Professor of Economics at the University of Minnesota when he died in 2008. Hurwicz was among the first economists to recognize the value of game theory and was a pioneer in its application. Interactions of individuals and institutions and trade are analyzed and understood today using the models Hurwicz developed. Hurwicz was born in Moscow, Russia, to a family of Polish Jews a few months before the October Revolution. Soon after Leonid's birth, the family returned to Warsaw. Hurwicz and his family experienced persecution by both the Bolsheviks and Nazis, as he again became a refugee when Germany invaded Poland in 1939, his parents and brother fled Warsaw, only to be sent to Soviet labor camps. Hurwicz, who had graduated from Warsaw University in 1938, at the time of Nazi invasion on Poland was in London, moved to Switzerland to Portugal and in 1940 he emigrated to the United States, his family joined him there. Hurwicz hired Evelyn Jensen, who grew up on a Wisconsin farm and was, at the time, an undergraduate in economics at the University of Chicago, as his teaching assistant during the 1940s.
They married on July 19, 1944 and lived at a number of locations in Minneapolis. They had four children: Sarah, Michael and Maxim, his interests included linguistics, archaeology and music. His activities outside the field of economics included research in meteorology and membership in the NSF Commission on Weather Modification; when Eugene McCarthy ran for president of the United States, Hurwicz served in 1968 as a McCarthy delegate from Minnesota to the Democratic Party Convention and a member of the Democratic Party Platform Committee. He helped design the'walking subcaucus' method of allocating delegates among competing groups, still used today by political parties, he remained an active Democrat, attended his precinct caucus in February 2008 at the age of 90. He was hospitalized in mid-June 2008, he died a week in Minneapolis. Encouraged by his father to study law, in 1938 Hurwicz received his LL. M. degree from the University of Warsaw. He studied at the London School of Economics with Nicholas Kaldor and Friedrich Hayek.
In 1939 he moved to Geneva. After moving to the United States he continued his studies at Harvard University and the University of Chicago. Hurwicz had no degree in economics. In 2007 he said, "Whatever economics I learned I learned by listening and learning."In 1941 Hurwicz was a research assistant to Paul Samuelson at the Massachusetts Institute of Technology and to Oskar Lange at the University of Chicago. At Illinois Institute of Technology during the war, Hurwicz taught electronics to the U. S. Army Signal Corps. From 1942 to 1944, at the University of Chicago, he was a member of the faculty of the Institute of Meteorology and taught statistics in the Department of Economics. About 1942 his advisors were Jacob Marschak and Tjalling Koopmans at the Cowles Commission for Research in Economics at the University of Chicago, now the Cowles Foundation at Yale University. Hurwicz received a Guggenheim Fellowship in 1945–1946. In 1946 he became an associate professor of economics at Iowa State College.
From January 1942 until June 1946, he was a research associate for the Cowles Commission. Joining full-time in October 1950 until January 1951, he was a visiting professor, assuming Koopman's classes in the Department of Economics, led the commission's research on theory of resource allocation, he was a research professor of economics and mathematical statistics at the University of Illinois, a consultant to the RAND Corporation through the University of Chicago and a consultant to the U. S. Bureau of the Budget. Hurwicz continued to be a consultant to the Cowles Commission until about 1961. Hurwicz was recruited by Walter Heller to the University of Minnesota in 1951, where he became a professor of economics and mathematics in the School of Business Administration, he spent most of the rest of his career there, but it was interspersed with studies and teaching elsewhere in the United States and Asia. In 1955 and again in 1958 Hurwicz was a visiting professor, a fellow on the second visit, at Stanford University and there in 1959 published "Optimality and Informational Efficiency in Resource Allocation Processes" on mechanism design.
He taught at Bangalore University in 1965 and, during the 1980s, at Tokyo University, People's University and the University of Indonesia. In the United States he was
In English, the word laureate has come to signify eminence or association with literary awards or military glory. It is used for winners of the Nobel Prize, Gandhi Peace Award and the Student Peace Prize. In ancient Greece, the laurel was sacred to Apollo and as such sprigs of it were fashioned into a crown or wreath of honor for poets and heroes; this symbolism has been widespread since. "Laureate letters" in old times meant the dispatches announcing a victory. The name of "bacca-laureate" for a bachelor's degree shows a confusion with a supposed etymology from Latin bacca lauri, though incorrect, involves the same idea. From the more general use of the term "poet laureate" arose its restriction in England to the office of the poet attached to the royal household, first held by Ben Jonson, for whom the position was, in its essentials, created by Charles I of England in 1617. Jonson's appointment does not seem to have been formally made as poet laureate, but his position was equivalent to that.
The office was a development of the practice of earlier times, when minstrels and versifiers were part of the retinue of the King. Moreover, the crown had shown its patronage in various ways. Sir William Davenant succeeded Jonson in 1638, the title of poet laureate was conferred by letters patent on John Dryden in 1670 two years after Davenant's death, coupled with a pension of £300 and a butt of Canary Islands wine; the post became a regular institution, though the emoluments varied, Dryden's successors being T. Shadwell, who originated annual birthday and New Year odes; the office took on a new luster from the personal distinction of Southey and Tennyson. However, the undesirability of breaking with tradition for temporary reasons, thus severing the one official link between literature and the state, prevailed over the protests against following Tennyson by any one of inferior genius. Abolition was advocated when Thomas Warton and William Wordsworth died; the poet laureate, being a court official, was considered responsible for producing formal and appropriate verses on birthdays and state occasions.
Wordsworth stipulated, before accepting the honor, that no formal effusions from him should be considered a necessity. The emoluments of the post have varied. To Pye an allowance of £27 was made instead of the wine. Tennyson drew £72 a year from the Lord Chamberlain's department, £27 from the Lord Steward's in lieu of the "butt of sack." Glory