Professor Gary Becker (1930-2014)

Its really sad that Professor Gary Becker passed away. I say sad because I used to his co-hosted blog regularly for some years until recently. He was 83 year old. He was a kind of revolutionary economist in the 20th century for his works on human capital and so on. 

Hundreds of tributes have been poring around the world to remember him and his works in economics and social sciences which are sort standing truths for ever.

Prof Becker gave the 2010 IEA Hayek Memorial Lecture.

Here are some really interesting tributes and reflections on the Prof Becker's contributions in economics and humanity at large:

• "Together with Milton Friedman, he helped make the University of Chicago the world leader in free-market economics. While Friedman was more famous to the general public, Becker was equally influential, or perhaps even more influential, among professional economists. (Each won a Nobel Memorial Prize in Economics—Friedman in 1976, Becker in 1992.)" 

• "Inside of economics, too, Becker’s prediction proved prescient. If you get a degree in the subject today, the stuff you learn is pretty much the same as what was being taught before the financial crisis."

• "His work led him to favor school vouchers, a volunteer army, pay for college athletes, legalization of drugs, stiffer criminal sentences and relaxation of minimum-wage laws."