person
Robert Lucas
American economist (1937–2023). Principal architect of the rational-expectations revolution in macroeconomics and of the methodological apparatus that became the New Classical program. Nobel laureate 1995.
Stub.
Robert E. Lucas Jr. spent most of his career at Chicago after a Carnegie Mellon start. His 1972 paper Expectations and the Neutrality of Money introduced rational expectations into mainstream business-cycle theory; the 1976 critique (“Econometric Policy Evaluation: A Critique”) restructured the methodological foundations of empirical macroeconomics; the 1980s growth papers (“On the Mechanics of Economic Development,” 1988) initiated the modern endogenous-growth literature. Nobel Memorial Prize 1995 for “having developed and applied the hypothesis of rational expectations.”