Glenn C. Loury

Director, Institute for Race and Social Division. Known for participation in policy debates on the economics and politics of race and affirmative action; theoretical research in industrial organization, public finance and resource economics; work on income distribution and microlending in less developed countries. Introduced the concept of social capital to economic analysis, modeled rigorously the effects of intra-family resource transfers on social mobility, and extended the theory of discrimination to incorporate the notion of rational, self-fulfiling stereotypes.