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George S. Tolley (1925–2021)

In: The Palgrave Companion to Chicago Economics

Author

Listed:
  • Glenn C. Blomquist

    (University of Kentucky)

  • Richard V. Burkhauser

    (Cornell University)

  • Donald S. Kenkel

    (Cornell University)

Abstract

George Tolley’s career demonstrates the value of using Chicago-style applied microeconomic principles to analyse the consequences of public policies. Initially, like his senior colleagues Theodore Schultz and D. Gale Johnson, he focused on agricultural issues. Later, as new national priorities emerged, George’s pioneering research on amenities and city bigness helped shape modern urban economics. His early framing of urban pollution control in terms of the benefits of improved health, visibility, and other amenities is now part of environmental economics. George recognised the power of market forces but also the existence of nonmarket goods and externalities. For efficiency reasons, governments must intervene in otherwise competitive markets. However, his research often showed that markets still play a major role in the allocation of resources. In analysing proposed policies within a market context, George was instrumental in developing a Chicago approach. Throughout his career, he was also an extraordinarily generous mentor and funder of graduate students.

Suggested Citation

  • Glenn C. Blomquist & Richard V. Burkhauser & Donald S. Kenkel, 2022. "George S. Tolley (1925–2021)," Springer Books, in: Robert A. Cord (ed.), The Palgrave Companion to Chicago Economics, chapter 29, pages 739-771, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-01775-9_29
    DOI: 10.1007/978-3-031-01775-9_29
    as

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