Aired on: 26 Jun 2014

Larger Than Economies: Gary Becker Memorial Lecture

Concept Note: Describe by Milton Friedman as "the greatest social scientist who has lived and worked in the last half century", Gary Becker, who has died aged 83, on May 3, 2014, carried out research that traversed at least a dozen different areas of economies, from black markets to racial discrimination, from crime and punishment to human capital. Becker received Nobel Prize in Economics in 1992. His pioneering of rational choice theory, the concept that individuals will pursue the most cost effective means to achieve their intended outcome, extended the boundaries of economies, and made the discipline relevant to a wide range of human activities, thus expanding the frontier of economics of life at large. Presenter: Ali Salman Founder and Executive Director of Policy Research Institute of Market Economy (PRIME) Islamabad

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