Dr. M. Ray Perryman is President and Chief Executive Officer of The Perryman Group www.perrymangroup.com. He also serves as Institute Distinguished Professor of Economic Theory and Method at the International Institute for Advanced Studies.
Every year, hundreds of thousands of new businesses are launched across the United States, generating an important source of jobs and economic activity. While many of these don’t survive, the constant introduction of new firms, new ideas, and new opportunities is vital to continued economic success. However, recently released data indicate that the rate of business formation has slowed.
Some of the most interesting and enlightening discoveries come where disciplines converge. Experts in one field who can see applications in other areas often give us new understanding of complex issues. The work of Dr. Gary S. Becker broke new ground in applying economic tools to other social sciences, generating theories and ideas on topics ranging from family dynamics to discrimination to criminal behavior. I was saddened to learn of his recent death at the age of 83. Our paths only crossed a few times, but I always found him fascinating.