He sold European books during the day to support himself during his time at the New School for Social Research.
He sold European books during the day to support himself during his time at the New School for Social Research. His professional work included the articulation of the "Preferred Habitat" theory for the term structure of interest rates and a theorem stating that the value of a firm is not affected by whether it is financed by equity or debt, which he co-formulated with Merton Miller. He was also the originator of the "life cycle hypothesis," which states that consumers would aim for a stable level of income throughout their lifetime. FTP, name this Nobel laureate who won the economics prize for his work on saving more than 45 years after he left his native Italy.
He sold European books during the day to support himself during his time at the New School for Social Research.
Franco {Modigliani}