Remembering Professor William Baumol

Posted by Albert Lee on 6/20/17 8:10 AM

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Summit mourns the passing of Professor William J. Baumol, who died at the age of 95 last month.  The world lost a brilliant economist, and Summit lost a beloved mentor and friend. 

 William taught at Princeton and NYU for more than 40 years. He was the president of the American Economic Association, and a perennial contender of the Nobel Economic Prize in the early 2000s. His text book (Economics: Principles and Policy), co-written with Alan Blinder, has been staple for generations of students. 

 Professor Baumol's illustrious academic and professional achievements are chronicled in numerous obituaries, including The EconomistThe New York Times, and The Washington Post

 William was an early supporter of Summit—he became our first academic affiliate in 2003. And he advised me throughout my career, offering invaluable guidance on how to write clear, effective, and compelling legal testimony about economic issues.

 What should not be missed was William's equally long and prolific consulting career. He was one of the original founders of Mathematica, a consultancy still active in public policy research. William was also a prominent expert witness who helped birth the field of economic expert testimony in legal cases. He testified in some of the most significant antitrust matters of his time. 

 We will greatly miss his warmth, wisdom, and indefatigable love of life.

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