Gary Becker

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Everything is quantified and measured and analyzed now–or soon will be–but that wasn’t always the case. The recently deceased economist Gary Becker believed his discipline could be brought to bear on all aspects of life. The opening of a defense of his mindset from fellow economist Tim Harford at the Financial Times:

“Perhaps it was inevitable that there would be something of the knee-jerk about the reaction to the death of the Nobel Prize-winning economist Gary Becker. Published obituaries acknowledged his originality, productivity and influence, of course. But there are many who lament Becker’s economic imperialism – the study of apparently non-economic aspects of life. It is now commonplace for those in the field to consider anything from smoking to parenting to the impact of the contraceptive pill. That is Gary Becker’s influence at work.

Becker makes a convenient bogeyman. It did not help that he could be awkward in discussing emotional issues – despite his influence inside the economics profession, he was not a slick salesman outside it. So it is easy to caricature a man who writes economic models for discrimination, for suicide and for the demand for children. How blinkered such a man must be, the critics say; how intellectually crude and emotionally stunted.

The criticism is unfair. Gary Becker’s economic imperialism was an exercise in soft power. Becker’s view of the world was not that economics was the last word on all human activity. It was that no matter what the subject under consideration, economics would always have something insightful to add. And for many years it fell to Becker to find that insight.”

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