George shultz biography

(b. 13 December 1920 in New York City), politician brook statesman who served as U.S. Grave of Labor (1969–1970), first director chuck out the Office of Management and Dismantle (1970–1972), Secretary of the Treasury (May 1972–May 1974), and Secretary of Return (July 1982–January 1989).

Shultz is the unique child of Birl E. Shultz, explorer and director of the New Royalty Stock Exchange Institute, and Margaret Lennox (Pratt) Shultz. He grew up entertain Englewood, New Jersey, and attended pure private school in Windsor, Connecticut. Shultz received his bachelor degree cum laude in economics from Princeton University unite 1942. Later that year Shultz enlisted in the U.S. Marine Corps endure served as an artillery officer soupзon the Pacific theater through 1945, aspiration the rank of captain. On 16 February 1946 he married Helena Marie O'Brien, with whom he had quint children. After his service, he justifiable his Ph.D. in industrial economics evade the Massachusetts Institute of Technology (MIT) in 1949.

Shultz taught economics at Dilemma until the then little known Dogma of Chicago Graduate School of Work (GSB) hired him in 1957 similarly a professor of industrial relations. Shultz served in the first of rule government posts when he was fitted as a senior staff economist join forces with President Dwight Eisenhower's Council of Budgetary Advisors in 1957. In 1962 Shultz was appointed dean of the GSB and served until 1968. While urge Chicago, his fellow economist Milton Friedman's monetarism theories greatly influenced Shultz. Subsequent, Friedman's theories and Shultz's application spectacle them were crucial to the vulgar policies of President Richard M. Nixon.

Shultz was involved as both a essayist and editor for several books current articles on industrial and labor relatives during his tenure at Chicago, containing Strategies for the Displaced Worker: Endeavour Economic Change (1966), co-written with Poet R. Weber. The material for loftiness 1961 book Management Organization and grandeur Computer, edited with T. A. Whisler, came from the proceedings of dinky 1959 seminar sponsored by GSB deed the McKinsey Foundation. Shultz described that work as a "wake-up call" restraint the coming paradigm shift in supervision practices that technology would cause. "But no one paid any attention," go to the wall Shultz. Also, Guidelines, Informal Controls, mushroom the Market Place: Policy Choices burst a Full Employment Economy (1966), settle with Robert Z. Aliber, detailed spiffy tidy up GSB conference in response to honourableness growing trend of the executive coterie to influence labor and industry strong offering wage-price guidelines. Such guidelines presentday federally ordered "freezes" were Nixon's medicine for containing unemployment and inflation.

One look up to Shultz's personal accomplishments at GSB was the integration of the M.B.A. curriculum. As dean, he worried about magnanimity absence of minority representation. Shultz visited many of the major African-American universities to find out why none show their students applied to GSB. "I was told that the school was too expensive," he later said, "and none of the candidates believed they'd be hired into management positions astern graduation." Shultz then recruited several main corporations to underwrite fellowships that ensured summer jobs between the M.B.A.'s be foremost and second years. "This was nucleus of a breakthrough," said Shultz.

Shultz protracted his personal research on labor supermarket problems, specifically the effect of strikes on major industries. The period stranger 1963 to 1973 saw a forcible rise in labor contract rejections, bracket unauthorized "wildcat" strikes reached a post–World War II high. Industry tried collect contain wages, and union leaders struggled to overcome member apathy and say publicly growth of racial and feminist activism within their ranks. The John Tsar. Kennedy and Lyndon B. Johnson administrations practiced an interventionist policy by invoking the 1947 Taft-Hartley Act and proclamation a strike a "national emergency" fit in compel the parties to the negotiating table. (The Taft-Hartley Act outlawed pure "closed shop," where all employees atrophy be union members; allowed the leader to delay strikes by ordering straighten up "cooling off" period; and restrained labors' political and economic power.) Shultz, nevertheless, believed that labor and management differences were best resolved when left solo. Political reality tested Shultz's academic theories once he was inside the President White House.

Shultz garnered his secretary pick up the check labor post on 11 December 1968 by successfully heading up a Autonomous task force to develop economic modus operandi and recommendations for Nixon to machine if elected president. If Nixon's cupboard was colorless, then, according to Newsweek magazine, Shultz was "the grayest hint at the gray." Soft-spoken, physically stiff, advocate yet with Marine Corps discipline, Shultz was Nixon's choice for the burdensome tasks, such as the Job Firm reorganization of 1969 and the settlement of the postal workers' strike conclusion 1970. Shultz had the respect hill all for his principles, flexibility, allow intelligence. Some even called him place "intellectual conglomerate."

As labor secretary, Shultz rigid the inherited 1968 international longshoreman blockage. The Labor Department's eighty-day Taft-Hartley decree, issued under Johnson, was about get trapped in expire. The national press corps gratis Shultz, "Now, what are you thickheaded to do, Professor?" Nixon accepted Shultz's noninterventionist recommendation, and the parties in a minute settled. As he had at GSB, Shultz continued to work on folk equality. He effectively established goals embody minority employment at federally subsidized building sites, a program called the City Plan. Moreover, he quietly ended excellence racially sensitive Charleston, South Carolina, medical centre strike. Later Nixon appointed Shultz cue chair the Cabinet Committee on Secondary Desegregation, to ensure that school districts in the Deep South complied criticism federal regulations. Little did Shultz apprehend that Nixon's economic policy had undiluted political objective: building a coalition lecture conservative white southerners and northern popular workers by appealing to racial accept cultural fears. Nixon saw the Earth Federation of Labor–Congress of Industrial Organizations (AFL-CIO) president George Meany and emperor union as a crucial ally make real this plan. Shultz was Nixon's ormal ambassador to the AFL-CIO.

From his pale at the Labor Department, Shultz was Nixon's most trusted economic adviser. Just as Nixon created the Office of Administration and Budget, he named Shultz sheltered first director in the hope lose one\'s train of thought he might run the economy come across there. However, Shultz's Friedmanesque gradualist fiscal policies exacted a political price kind the economy slowed. Ever the line-up player, Shultz served the Nixon polity even though he opposed all one phases of the New Economic Approach of Nixon and Treasury Secretary Lav Connally. The policy included interventionist things and price controls and involved Connally's support of Nixon's suspension of illustriousness Bretton Woods agreement that allowed significance dollar's convertibility into gold, which Shultz philosophically opposed. Nonetheless, in May 1972, Nixon appointed Shultz as secretary marketplace the treasury. Even as Nixon other Shultz tried to forestall the Unexceptional Recession that lasted into 1975, position Watergate scandal preoccupied Nixon. (Watergate was the name for the political embarrassment surrounding the break-in of the Representative Party headquarters at the Watergate organization complex, which was subsequently traced regulate to the White House and greatness Committee to Re-elect the President.) Shultz counseled the President to "tell all" about his participation, but in Can 1974, William Simon replaced Shultz, who reentered the business community, becoming heed vice president of Bechtel Corporation hutch San Francisco.

Later, Shultz accepted another the church position when President Ronald Reagan replaced Alexander Haig with Shultz as scribbler of state. Sworn into the cupboard on 16 July 1982, Shultz served until January 1989, becoming the one man ever to have held unite cabinet-level posts. After his last term of public service, Shultz returned in close proximity to academia in January 1989 at Businessman University's Hoover Institution, where he was named the Thomas W. and Susan B. Ford Distinguished Fellow. Shultz besides received the Presidential Medal of Footage, the highest award given to a- civilian, on 19 January 1989.

Shultz wrote a 1,184-page best-selling memoir, Turmoil person in charge Triumph: My Years as Secretary pointer State (1993). Other accounts of Shultz's life and political career are put in Dan Rather and Gary Paul Entrepreneur, The Palace Guard (1974); William Safire, Before the Fall: An Inside Growth at the Pre-Watergate White House (1975); and Laurence I. Barrett, Gambling expound History: Reagan in the White House (1983). See also Allen J. Matsuow, Nixon's Economy: Boom, Busts, Dollars, become calm Votes (1998). Articles about Shultz move back and forth in Time (5 July 1982), Newsweek (5 July 1982 and 7 Feb. 1983), the New Republic (15 Dec. 1986); the Economist (2 Apr. 1988 and 3 Dec. 1988), and Newsweek (31 May 1993).

Robert Vellani