Some of the most interesting and enlightening discoveries come where disciplines converge. Experts in one field who can see applications in other areas often give us new understanding of complex issues. The work of Dr. Gary S. Becker broke new ground in applying economic tools to other social sciences, generating theories and ideas on topics ranging from family dynamics to discrimination to criminal behavior. I was saddened to learn of his recent death at the age of 83. Our paths only crossed a few times, but I always found him fascinating.
For extending economic analysis “to new areas of human behavior and relations,” Dr. Becker received the 1992 Nobel Prize in Economics (formally, the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel). As the Royal Swedish Academy put it, Dr. Becker worked with an “economic approach” centered on the idea that individual behavior follows the same basic principles in various contexts. Specifically, individuals (or households, companies or other organizations) behave purposefully.