Abstract
Excerpt: Of the economists who have influenced the direction of mainstream economic theory in the latter half of the twentieth century, Gary Becker tops the list. Professor Becker, more than any other economist of our time, has legitimized the application of neoclassical theory into areas previously considered unorthodox. Certainly other economists, many writing from the tradition of the Chicago School (as does Becker), previously examined areas such as crime, the family, and human capital; Becker brought these areas of study into the mainstream of microeconomic analysis. This is a significant accomplishment in a subject area in which most theorists are in agreement as to its major principles. For redefining this mainstream, Becker was certainly deserving of his Nobel prize in economics in 1992.