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Theodore William Schultz was the 1979 winner
(jointly with Arthur Lewis) of the Bank of Sweden
Prize in Economic Sciences in Memory of Alfred
Nobel. He was born 1902 in the United States,
enrolled in South Dakota State University|South
Dakota State College in 1921 to study agriculture,
and entered the University of Wisconsin in 1924,
studying economics.

He later taught at Iowa State University|Iowa
State College, and moved to the University of
Chicago in 1943. He later became president of the
American Economic Association. He was awarded his
Nobel prize jointly with Arthur Lewis in 1979. He
died in 1998.

===His contributions===
Schultz was awarded the Bank of Sweden Prize for
his work in development economics, focusing on the
economics of agriculture. He analysed the role of
agriculture within the economy, and his work has
had far reaching implications on industrialisation
policy, both in developing and developed nations.
Schultz also promulgated the idea of educational
capital, an offshoot of the concept of human
capital, relating to specifically to the
investments made in education.

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