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American economist, Nobel Prize Winner Gary Becker died

May 05, 2014, 7:44 UTC+3 NEW YORK

Scientist passed awat at the age of 83

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NEW YORK, May 05, 7:20 /ITAR-TASS/. American economist and Nobel Prize Winner Gary S. Becker has died in the United States at the age of 83. The relatives of the scientist said Sunday that he had died on Saturday, May 3, in a hospital in Chicago, Illinois, after a long illness.

Gary Stanley Becker had been born on December 2, 1930 in the town of Pottsville, Pennsylvania. He had attended Princeton and Chicago Universities.

Another American economist, Milton Friedman, the founder of monetarism, had had a great influence on Becker's views.

Becker was awarded Nobel Prize in Economics in 1992 for the expansion of the sphere of macroeconomic analysis to a whole number of aspects of human behavior and interaction, including nonmarket behavior.

The scientist himself determined the essence of his scientific studies as an economic approach to social issues.The distinguishing feature of this approach is that any sphere of social life is viewed as a field for the application of economic analysis.

Becker authored more than ten fundamental researches and several tens of articles. In particular, he wrote the monographs "The Economics of Discrimination" (1957), "Human Capital" (1964), and "A Treatise on the Family" (1981). Becker stood at the rise of whole segments of economic theory the economics of discrimination, the economics of crime and punishment, and home economics. Nowadays it is hard to find a branch of socio-economic studies on which his works would not have an impact.

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