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William C. HsiaoAmerican economist
Country:
 USA |
Content:
- William C. Hsiao: A Pioneer in Healthcare Economics
- Early Life and Education
- Reforming Social Security
- Academic Career
- International Recognition
- Personal Life
William C. Hsiao: A Pioneer in Healthcare Economics
William C. Hsiao is a renowned American economist and the K. T. Li Professor of Economics at the Harvard School of Public Health in Boston, Massachusetts. His pioneering contributions to healthcare financing and social insurance have earned him international acclaim.
Early Life and Education
Hsiao was born in Beijing, China, and immigrated to the United States as a teenager when his father became an economic advisor to the Kuomintang delegation to the United Nations. He grew up in Forest Hills, Queens, New York, and attended New York public schools.
After graduating from college, Hsiao worked as an actuary for Connecticut General Life Insurance Co. in Hartford. Seeking broader experience, he moved to Washington, D.C., and joined the Social Security Administration in 1968. When the agency's chief actuary resigned in 1970, Hsiao succeeded him.
Reforming Social Security
During his tenure at SSA, Hsiao became deeply involved in congressional efforts to reform and ensure the solvency of the Social Security system. He led key advisory groups and testified before Congress numerous times. His work culminated in the passage of a major piece of legislation in 1977, signed by President Jimmy Carter, which significantly strengthened Social Security.
Academic Career
After leaving government service, Hsiao pursued graduate studies at Harvard University's John F. Kennedy School of Government and later the Economics Department. His doctoral dissertation was supervised by Martin Feldstein, who went on to chair the Council of Economic Advisors under President Ronald Reagan.
In 1979, Hsiao joined the Harvard School of Public Health as an assistant professor and rose through the ranks to become a full professor in 1986 and a chaired professor in 1992. He has authored numerous scholarly works on health economics, policy, and social insurance.
International Recognition
Hsiao is widely recognized as a leading global expert in healthcare economics and financing. He has conducted extensive international research on social insurance and healthcare payment systems in countries such as Singapore, Cyprus, Taiwan, Canada, South Africa, China, and Hong Kong.
Hsiao regularly consults for U.S. government agencies, foreign governments, and international organizations such as the World Bank, UNICEF, and the World Health Organization. He has received numerous awards, including Harvard's Lindback Award for Distinguished Teaching, and has been elected to prestigious organizations such as the National Academy of Sciences, the Institute of Medicine, and the Society of Actuaries.
Personal Life
Hsiao is married to Dr. Ruth Hsiao, a former faculty member at Tufts University. They have two sons and two grandchildren. They reside in Cambridge, Massachusetts.
