February 8, 1963
|Institution||University of Chicago, U.S.|
Bocconi University (B.A.)|
James M. Poterba|
|Information at IDEAS / RePEc|
Luigi G. Zingales (Italian pronunciation: [lu'i:d?i dzi?'?a:les]; born February 8, 1963 in Padua, Italy), is a finance professor at the University of Chicago Booth School of Business, and the author of two widely reviewed books. Saving Capitalism from the Capitalists (2003) is a study of "relationship capitalism". In A Capitalism for the People: Recapturing the Lost Genius of American Prosperity (2012), Zingales "suggests that channeling populist anger can reinvigorate the power of competition and reverse the movement toward a 'crony system'." Zingales generated controversy in 2018 when he invited former White House Chief Strategist Steve Bannon to debate globalization and immigration at the University of Chicago against an undecided expert in the field. The decision sparked protests from students and faculty given Bannon's history of controversial statements .
Zingales received a bachelor's degree in economics from Bocconi University in Milan. In 1992 he earned a Ph.D. in Economics from the Massachusetts Institute of Technology for thesis titled The value of corporate control under the supervision of James M. Poterba and Oliver Hart. In the same year he joined the faculty of University of Chicago Booth School of Business, where he is the Robert C. McCormack Distinguished Service Professor of Entrepreneurship and Finance. Zingales also serves as a member of the Committee on Capital Markets Regulation.
Zingales has been featured prominently in news media, which falls in line with his belief that economists should take a more public stance regarding what they believe in. While a traditional economist in many respects, he is known for some of his unique opinions. He has advocated replacing all taxes with a single consumption tax, a position usually associated with political conservatives. On the other hand, he has voiced support for greater regulation of the banking industry. Perhaps most interesting is his support of the United States debt ceiling, which is almost universally held in low regard by his colleagues.
In July 2012, Zingales took part in the 'No-Brainer Economic Platform' project of NPR's program Planet Money. He supported a six-part reform plan that involved eliminating all American income, corporate, and payroll taxes as well as the war on drugs and replacing the system with a broad consumption tax (including taxing formerly illegal substances).
His main field of study is business economics, with a heavy focus on organizations and entrepreneurship.
He was the winner of the 2003 Germán Bernácer Prize to the best European economist under 40 working in macro-finance. In 2012, he was named by Foreign Policy magazine to its list of FP Top 100 Global Thinkers, "For reminding us what conservative economics used to look like."