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Schultz, Theodore, W.

Following an undergraduate degree at South Dakota University, Schultz received his Ph.D. at Wisconsin in 1930, and from that year to 1943 he taught agricultural economics at Iowa State University. He went next to Chicago and was chairman of the Economics Department there from 1946 to 1972. His early work was related to the role that education played in leading to productivity gains­Agriculture in an Unstable Economy (1945)- but his work later branched out, encompassing a broader outlook on the role of education in all sectors of the economy – The Economic Value of Education (1963). He was awarded the Nobel Prize in Economics in 1979.

Reference: The Penguin Dictionary of Economics, 3rd edt.