| George Joseph Stigler |
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Stigler is best known for developing the ''Economic Theory of Regulation'', also known as Capture , which says that interest groups and other political participants will use the regulatory and coercive powers of government to shape laws and regulations in a way that is beneficial to them. This theory is an important component of the Public Choice field of economics. He also carried out extensive research into the History Of Economic Thought . His 1962 article "Information in the Labor Market" developed the Theory Of Search Unemployment . Stigler was born in Seattle , Washington , and attended the University Of Washington , Northwestern University , and received his Ph.D. from the University Of Chicago in 1938 . He was a founding member of the Mont Pelerin Society , and served as its president from 1976 to 1978 . SEE ALSO
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