Richard Easterlin

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Richard Ainley Easterlin (January 12, 1926 – December 16, 2024) was an American economist. A professor of economics at the University of Southern California, he is best known for the economic theory named after him, the Easterlin paradox. Another of his contributions is the Easterlin hypothesis about long waves of baby booms and busts. Easterlin was born in Ridgefield Park, New Jersey, on January 12, 1926. He studied engineering at the Stevens Institute of Technology and graduated with a degree in mechanical engineering with Distinction in 1945. He then completed an MA in economics in 1949 and his Ph.D. in economics in 1953 both at the University of Pennsylvania. He became interested in demography and population studies through his participation as a research associate from 1953 to 1955 in the landmark Study of population Redistribution and Economic Growth in the United States conducted by Simon Kuznets and Dorothy Thomas. Easterlin died in Pasadena, California on December 16, 2024, at the age of 98. See biographical memoir from the National Academy of Sciences for additional details. Whilst completing his postgraduate studies, Easterlin worked as instructor from 1948 to 1953 at the University of Pennsylvania.