OR

source:www.gf.org
04 Sep, 1893
26 Nov, 1938
Car accident
American
Economist
45
Schultz’s groundbreaking research on demand measurement and consumer behavior played a fundamental role in shaping modern economic thought. He developed the concept of elasticity of substitution, which assesses how price changes influence consumer choices between different goods or inputs. Additionally, his introduction of the linear expenditure system provided a simplified yet powerful model of consumer preferences, allowing for consistent aggregation across individuals and groups.
A strong advocate for free trade, Schultz critiqued economic policies that distorted prices and diminished efficiency. His studies examined the impact of tariffs, quotas, subsidies, and exchange rates on trade flows and overall welfare. He also explored income distribution across various age groups and regions, proposing measures to mitigate inequality and poverty. By blending economic theory with empirical analysis, Schultz laid the groundwork for data-driven policymaking.
Schultz was married to Bertha Greenstein in 1920. The marriage was blessed with two daughters but unfortunately Schultz and his whole family died in the car crash that claimed his life in 1938.
Tragically, Schultz’s life was cut short in a car accident in 1938 at the age of 44. Despite his early passing, his research remains a cornerstone of modern economics, influencing generations of scholars and policymakers. His work continues to shape economic theory and statistical methodologies, cementing his legacy as a visionary in the field.
Henry Schultz
Henry Schultz
Male
Car accident
Sharkawshchyna, Russian Empire (now Belarus)
San Diego, California, US
Logician: Innovative inventors with an unquenchable thirst for knowledge. Henry Schultz was an intelligent person who couldn’t help but analyze everything he came across.
He influenced Milton Friedman who was his student before becoming his research assistant.
He started a mathematical economics school at the University of Chicago.
Henry Schultz pursued a doctoral degree at Columbia while also conducting statistical work for the War Trade Board, the United States Census Bureau, and the United States Department of Labor
He was an American economist, statistician, and one of the founders of econometrics.