George H. Stigler

George H. Stigler was a renowned American economist known for his work in the Field of industrial organization and the economics of information. He helped shape the way economists understand how markets work, emphasizing that governments and regulations can influence industries. Stigler also introduced the concept of "regulatory capture," where industries may influence regulators to serve their interests. Awarded the Nobel Prize in Economic Sciences in 1982, his research highlighted the importance of information asymmetry and the power dynamics within markets. His ideas remain influential in understanding economic behavior, government intervention, and industry regulation.