Willam Baumol

William Baumol is an American economist and professor at New York University. He is also an academic director at Berkley and a professor emeritus at Princeton University. He has been teaching at NYU for more than 36 years and Princeton for 43 years.He received his bachelor degree from the College of the City of New York in 1942. After initially being denied admission to the Ph.D. program at the London School of Economics, he was admitted to the Masters Program. However, his debate skills were recognized early on and within weeks he was switched over to the doctoral program. After earning his degree, he then went to Princeton where he would then supervise students who have gone on to be very well-known economists. He is well known for both his research and educational pieces as well as his work as an entrepreneur. Perhaps one of the things he is most famous for is his theory for cost disease which we have already learned about in this class. His work has also had huge contributions to the field of finance. Also, books he has written have been used around the world to teach business and economics students.