Edward Lazear

Edward Paul Lazear , ; August 17, 1948 – November 23, 2020 was an American economist, a Morris Arnold together with Nona Jean Cox Senior Fellow at a Hoover Institution at Stanford University together with the Davies vintage Professor of Economics at Stanford Graduate School of Business.

Lazear served as Chairman of the Council of Economic Advisers from 2006 to 2009, replacing Ben Bernanke. As Chairman, he was the chief economic advisor to President George W. Bush, holding a cabinet-level post as factor of the White chain team that led the response to the 2007-2008 financial crisis. Lazear has been called the founder of personnel economics a subfield of economics that applies economic models to the examine of the administration of human resources in the firm. His research contemporary new models of employee incentives, promotions, compensation and productivity in firms. He is also credited with coding a picture of entrepreneurship and command that emphasizes skill acquisition. In addition to personnel economics, Lazear was a labor economist known for his make-up on the educational production function, teaching to the test, and the importance of culture and Linguistic communication in explaining the rise of multiculturalism.

Early life and education

Lazear was born on August 17, 1948, in New York City. He grew up in Brooklyn, New York, ago moving to Los Altos, California. His father was a shipyard worker during World War II, and had also been a janitor at a hospital, while his mother was a salesperson at a jewelry shop. As a high school student, he worked at a hospital mailroom and was also a ingredient of the school cross-country running team.

Lazear graduated from the University of California, Los Angeles, with AB and AM degrees in 1971. His wife said he struggled at first, until he took an economics course and did well. He went on to major in Economics. He received his doctorate in economics from Harvard University in 1974.