Lionel Wilfred McKenzie American economist Date of Birth: 26.01.1919 Country: USA

1. Biography of Lionel Wilfred McKenzie
2. Education and Academic Career
3. Achievements and Honors
4. Contributions to Economics

Biography of Lionel Wilfred McKenzie

Lionel Wilfred McKenzie was an American economist known for his contributions to general equilibrium theory and capital theory. He was born in Montezuma, Georgia and completed his education at the University of Duke in 1939.

Education and Academic Career

After completing his undergraduate studies, McKenzie was awarded a Rhodes Scholarship to study at the University of Oxford for a year. He then became a member of the Cowles Commission for some time. From 1948 to 1957, McKenzie served as an assistant professor at the University of Duke.

In 1956, McKenzie earned his Ph.D. from Princeton University. Shortly after, he joined the University of Rochester, where he played a significant role in developing an additional economics program. Throughout his academic career, McKenzie received numerous prestigious professional awards and recognition.

Achievements and Honors

In 1973, McKenzie was awarded the Guggenheim Fellowship. In 1978, he was elected as a member of the United States National Academy of Sciences. In 1995, McKenzie received the Order of the Rising Sun, a prestigious honor in Japan. He was also awarded an honorary doctorate from Keio University in 1998 and Kyoto University in 2004.

These honors reflect the high regard in which McKenzie is held in Japan, where he is often referred to as the "Father of Japanese Mathematical Economics."

Contributions to Economics

McKenzie's most notable contribution to economics is his co-creation of the Arrow-Debreu-McKenzie model. He also published several important works, including "Demand Theory Without a Utility Index," "The Classical Theorem on Existence of Competitive Equilibrium," "Turnpike Theory, Discounted Utility, and the von Neumann Facet," and "Classical General Equilibrium Theory."

Colleagues praised McKenzie for his exceptional clarity and logical ideas. His work, particularly his application of Shepard's lemma to consumer theory, has had a lasting impact on the field of economics.

On October 12, 2010, Lionel W. McKenzie passed away at the age of 91, leaving behind a remarkable legacy in the field of economics.