Here is an obituary:
William Jack Baumol was born on February 26, 1922, and died on May 4, 2017.
He was an American economist.
He served as the professor of economics at New York University, Academic Director of the Berkley Center for Entrepreneurship and Innovation, and Professor Emeritus at Princeton University.
Baumol was a well known prolific author of more than eighty books and several hundred journal articles.
He has written extensively about the labor market and other economic factors that affect the economy.
Baumol also made very contributions to the theory of entrepreneurship and the history of economic thought.
Baumol was among the most influential economists in the world according to IDEAS/RePEc.
Baumol was elected a Fellow of the American Academy of Arts and Sciences in 1971.
He was considered a candidate for the Nobel Prize in Economics for 2003, and Thompson Reuters cited him as a potential recipient in 2014.
William Baumol passed away at 95 years old.
Here are my Baumol posts:
- The first member of the Pigou Club?
- Not funny
- Who will win the next Nobel Prize in Economics?
- A note on the accuracy of Krugman's "cap and trade began as a Republican idea"
Ian Sheldon wrote this in 2014 [1]:
William Baumol was born February 26, 1922, in New York City. After receiving his BSc from the College of the City of New York in 1942, he undertook graduate study at the London School of Economics, earning his PhD in 1949. He taught at Princeton University for 43 years, where he is now professor emeritus and senior research economist. He has also taught at New York University for over 36 years, where he currently holds the Harold Price Professorship of Entrepreneurship in the Stern School of Business. Professor Baumol is the author of more than 40 scholarly books, and has written over 500 articles published in peer-reviewed journals as well as the popular media. Among his many honors and awards, he was elected fellow of the Econometric Society in 1953, fellow of the American Academy of Arts and Sciences in 1971, and distinguished fellow of the American Economic Association in 1982.
Baumol’s research in economics has covered diverse areas of the discipline, including, among others: entrepreneurship and innovation, economic growth, industrial organization, and antitrust economics and regulation. His seminal contributions include a model of the transactions demand for money, the sales-revenue maximization model, an analysis of cost disease, the theory of contestable markets, and the concept of super-fairness. Most recently, Baumol has focused on entrepreneurship and innovation, The Economist magazine remarking that, “. . .Thanks to Mr. Baumol’s own painstaking efforts, economists now have a bit more room for entrepreneurs in their theories . . .” (March 9, 2006).
In the field of environmental economics, Professor Baumol is best known for his textbook on the theory of environmental policy, co-authored with Wallace Oates. First published in 1975, this book has become a standard reference in many graduate-level classes in environmental economics due to its comprehensive coverage of both the theory of externalities and the design of environmental policy, with chapters on topics such as imperfect competition and externalities, optimal pricing of exhaustible resources, marketable emissions permits, and international environmental issues. ...
Hat tip: Tim Perri
[1] Ian Sheldon, "William J. Baumol," Environmental and Natural Resource Economics: An Encyclopedia, edited by Timothy C. Haab and John C. Whitehead, March 28, 2014.