Nobel Prize-winning economist Gary Becker was internationally renowned within the economics profession, but was not nearly as well known among the general public as he deserved to be. More important, his path-breaking ideas, including his analysis of the economics of racial discrimination, deserved to be much more a part of the many discussions of that subject.
More than half a century after Professor Becker’s landmark work on the economics of discrimination, most controversies on that subject, both in the media and in politics, go on in utter ignorance of his penetrating insights. So do laws and policies that make discrimination worse.
As someone who has written about racial discrimination within the framework of analysis that Becker created, I am especially indebted to him, and wish only that more people were aware of that framework, which could spare us much rhetoric and offer some useful understanding instead.
At a time when there are so many occasions to lament that Milton Friedman is no longer with us, when his knowledge and wisdom are needed more than ever, now we must also lament that the same is true of Gary Becker.