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Edward P. Lazear

American economist

Died when: 72 years 98 days (867 months)
Star Sign: Leo

 

Edward P. Lazear

Edward Paul Lazear (, lə-ZEER;August 17, 1948 – November 23, 2020) was an American economist, the Morris Arnold and Nona Jean Cox Senior Fellow at the Hoover Institution at Stanford University and the Davies Family 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 part of the White House 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 study of the management of human resources in the firm.

His research advanced new models of employee incentives, promotions, compensation and productivity in firms.He is also credited with developing a theory of entrepreneurship and leadership that emphasizes skill acquisition.

In addition to personnel economics, Lazear was a labor economist known for his work on the educational production function, teaching to the test, and the importance of culture and language in explaining the rise of multiculturalism.


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