Biographical Memoirs Volume 77 (1999) / Chapter Skim
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Theodore William Schultz
Theodore William Schultz
Pages 302-317
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a remarkable impact on huncirecis of students, a highly successful academic administrator, en c! a keen observer of the woric!
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in 1930. He became an assistant professor at Iowa State College and remained at the college until 1943, when he moved to the University of Chicago.
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In preparing for the speech, I wrote a letter to Professor Theodore W Schultz, then head of the Department of Economics and Sociology at Iowa State College, asking for his help and advice.
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went to the University of Chicago in the fall of 1943. His reason for leaving Iowa State illustrates another aspect of his personality, namely his absolute support of the principle of academic freedom in our colleges and universities.
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from Iowa State en c! acceptec!
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When a military coup overthrew the Allencle government in 1973, a group that came to be known as the Chicago Boys was given the daunting task of rebuilding Chile's shattered economy. This they did, combining moclern market-orientec!
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the view that agriculture could contribute little or nothing to economic growth. Economic growth, it was arguccI, clepenclec!
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is among the most vital and most urgent in the world. It is ill-informed because Professor Schultz ignores literature essential if a balanced judgment on the problem of the transformation of primitive peasant agriculture production is to be arrived at, and the basis for effective policy is to be found in the largest and most populous parts of the world (Balogh, 1964, p.
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for transformation to more productive agriculture. In saying this, Ted committed many heresies: he said peasants were rational and would respond to incentives; he said labor was not a free good, using data from Indian regions on declines in farm output after the flu epidemic; he said large farms weren't necessarily more efficient; and much more.
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He studied the efforts to explain economic growth by analyzing changes in the factors of production: lancI, labor, en c! capital.
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concern for the poor farmers of the woricI. He took advantage of opportunities to visit rural areas in Latin America en c!
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5. Ames: Iowa State College.
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58-1-15. 1951 The declining economic importance of agricultural land.
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New York: Columbia University Press. 1964 Transforming Traditional Agriculture.
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Oxford: Basil Blackwell. The economic importance of human capital in modernization.
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