“Nobel Prize In Economics”Theodore W. Schultz Signed FDC For Sale
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“Nobel Prize In Economics”Theodore W. Schultz Signed FDC:
$419.99
Up for sale the “Nobel Prize In Economics”Theodore W. Schultz Hand Signed First Day Cover Dated 1991.
economist and chairman of the University of Chicago Department of Economics.
Schultz rose to national prominence after winning the 1979 Nobel
Memorial Prize in Economic Sciences. Theodore William Schultz was
born on April 30, 1902 in a small town ten miles northwest of Badger, South Dakota on
a 560-acre farm. When Schultz was in the eighth grade, his father Henry decided
to pull him out of attending Kingsbury County Schoolhouse. His father's view
was that if his eldest son continued to get an education he would be less
inclined to continue working on the farm. Schultz subsequently did not have any
formal post-secondary education. He eventually enrolled in the Agriculture
College at South Dakota State,
in a three-year program that met for four months a year during the winter.
After being recognized for having great potential as a student, Schultz moved
on to a bachelor's program, earning his degree in 1928 in agriculture and
economics. He also received an honorary doctorate of science degree from the
College in 1959. He graduated in 1927, then entered the University of
Wisconsin–Madison earning his doctorate in Agricultural
Economics in 1930 under Benjamin H. Hibbard with a thesis, titled The
Tariff in Relation to the Coarse-Feed Grains and a Development of Some of the
Theoretical Aspects of Tariff Price Research. Schultz
married Esther Florence Werth (1905–1991) in 1930. She was born and raised on a
farm near Frankfort, South Dakota of German parents, who encouraged her to pursue schooling.
Werth was the first in her family to attend college, receiving a bachelor's
degree in commercial science from South Dakota State College in Brookings in 1927, and subsequently worked as a school teacher
in Waubay from 1927 to
1929 and then in Gregory from 1929 to
1930. Werth shared Schultz's background in agriculture and commitment to ideals
of education and economic development, and throughout his career worked as a
primary editor of his published works. In his Nobel Prize Lecture he
acknowledged her contributions thus: "I am also indebted to my wife,
Esther Schultz, for her insistence that what I thought was stated clearly was
not clear enough." The couple was survived by two daughters and one son. Schultz
taught at Iowa State College from
1930 to 1943. He left Iowa State in the wake of the
"oleomargarine controversy", and he served as the chair of
economics at the University of Chicago from
1946 to 1961. He became president of the American Economic
Association in 1960. He retired in 1970 though he remained
active at the University of Chicago into his 90s until a fractured hip left him
bedridden. Shortly
after his move to Chicago, Schultz attracted his former student, D. Gale Johnson to the department. Their research in farm
and agricultural economics was
widely influential and attracted funding from the Rockefeller Foundation to
the agricultural economics program at the University. Among the graduate
students and faculty affiliated with the pair in the 1940s and 1950s were Clifford Hardin, Zvi Griliches, Marc Nerlove, and George S. Tolley.[6] In 1979, Schultz was awarded the Nobel Prize in
Economics for his work in human capital theory and economic development.
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