2003 | George Pratt Shultz
George Pratt Shultz (PhD ’49, Economics) is an economist and Republican presidential adviser known best as the Secretary of State under Ronald Reagan. Shultz graduated from Princeton in 1942 with an economics degree, served in the Marine Corps Reserves, and earned a Ph.D. in Industrial Economics from MIT. He taught at MIT (1948-57), was a professor and dean at the University of Chicago (1962-68) and a fellow at Stanford University’s Center for Advanced Study in the Behavioral Sciences (1968-69) before joining Richard M. Nixon’s administration in 1969. He served as Secretary of Labor, director of the Office of Management and Budget and Secretary of the Treasury under Nixon. He returned to the private sector in 1974, a few months before Nixon’s resignation, and became president and director of the Bechtel Group. Already an economic advisor to President Ronald Reagan, Shultz left his post at Bechtel to replace Alexander Haig as Secretary of State in 1982. He served for the remainder of Reagan’s term. Shultz has been a fellow at Stanford’s Hoover Institution since 1989. He was awarded the Medal of Freedom by Ronald Reagan in 1989.
