Gary Becker, a Nobel Prize-winning economist, has died.
Becker, who won the Nobel in economic sciences in 1992, died Saturday in Chicago. He was 83.
A professor of economics and sociology at the University of Chicago, Becker also received the Presidential Medal of Freedom. He was known for applying economic analysis to human behavior and daily life.
His teacher and mentor was Milton Friedman, also a University of Chicago economist and fellow Nobel Prize winner.
Becker, who was Jewish, was best known for his work in labor economics.
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