12 Facts About Fischer Black

Fischer Black graduated from Harvard College with a major in physics in 1959 and received a PhD in applied mathematics from Harvard University in 1964.

Fischer Black was initially expelled from the PhD program due to his inability to settle on a thesis topic, having switched from physics to mathematics, then to computers and artificial intelligence.

Fischer Black joined the consultancy Bolt, Beranek and Newman, working on a system for artificial intelligence.

Fischer Black spent a summer developing his ideas at the RAND corporation.

Fischer Black became a student of MIT professor Marvin Minsky, and was later able to submit his research for completion of the Harvard PhD.

Fischer Black later left the University of Chicago in 1975 to work at the MIT Sloan School of Management.

Fischer Black began thinking seriously about monetary policy around 1970 and found, at this time, that the big debate in this field was between Keynesians and monetarists.

Fischer Black concluded that monetary policy should be passive within an economy.

Fischer Black said in a letter to Friedman, in January 1972:.

Fischer Black has published many academic articles, including his best-known book, Business Cycles and Equilibrium.

Banks are the main institutions of monetary transactions in Fischer Black's book, to which he states that money is an endogenous resource, provided by banks due to profit maximization.

However, the cancer returned, and Fischer Black died in August 1995.