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Born: November 7, 1885 (White Oak Township, McLean County, Illinois)

Died: April 15, 1972 (Chicago, Illinois)

Education: B.A., Milligan College (1911); B.Sc. and M.A., University of Tennessee (1913), Ph.D., Cornell University (1916)

Dissertation: "A Theory of Business Profit," Cornell University, 1916. Supervisor: Alvin S. Johnson initiated the disseration; Allyn A. Young supervised its completion. The dissertation won 2nd place in the Hart, Schaffner & Marx Economics Essay contest in 1917. Published in 1921 as Risk, Uncertainty and Profit (Boston: Houghton and Mifflin). Revisions for publication supervised by John Maurice Clark and Allyn A. Young.

Academic Positions: Instructor, Cornell University, 1917-18; Instructor, University of Chicago, 1917-19; Associate Professor, University of Iowa, 1919-1922; Professor, University of Iowa, 1922-1928; Professor, University of Chicago, 1922-1952; Professor Emeritus, University of Chicago, 1952-1972. Last Academic Position: Morton D. Hull Distinguished Service Professor, University of Chicago.

Other Responsibilities: Co-editor (with Jacob Viner), Journal of Political Economy, 1928-45; co-founder, Committee on Social Thought, University of Chicago, 1940s.

Awards and Recognition: President, American Economic Association, 1950; Distinguished Service Award, William Volker Fund, 1953; Francis A. Walker Medal, American Economic Association, 1957; Great Living American Award, U.S. Chamber of Commerce, 1959; Prize for Distinguished Service to Humanistic Scholarship, American Council of Learned Societies, 1961.

Honorary Degrees: Princeton (1946); Northwestern (1951), Glasgow (1952); Columbia (1954), and Rochester (1963).

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Last updated: 18-Feb-2010