V. Duane Rath Professor of Economics and Neubauer Family Faculty Fellow
Richard Hornbeck is the V. Duane Rath Professor of Economics at the University of Chicago Booth School of Business. Rick is an economic historian and applied-micro economist, whose research focuses on the historical development of the American economy. He views history as informing why some places and some people have become wealthier, while others have remained poorer, which can provide perspective on what factors might drive widespread improvements in living standards. His published research includes articles in the American Economic Review, the Quarterly Journal of Economics, and the Journal of Political Economy. He is a research associate at the National Bureau of Economic Research, affiliated with programs on the Development of the American Economy, Development Economics, and Environmental and Energy Economics.
Prior to joining Chicago Booth in 2015, Rick was the Dunwalke Associate Professor of American History in the Economics Department at Harvard University. He received an Alfred P. Sloan Fellowship in 2014 and was selected for the 2009 Review of Economic Studies Tour. He received a PhD in economics from MIT in 2009 and a bachelor’s degree in economics from the University of Chicago in 2004.
Chicago Booth’s Richard Hornbeck discusses research that finds emancipation created huge economic value.
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Conventional economic analysis of slavery overlooks the costs imposed upon the people who were enslaved.
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History suggests inefficient economies benefit the most.
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