10 Facts About Franco Modigliani

Franco Modigliani was an Italian-American economist and the recipient of the 1985 Nobel Memorial Prize in Economics.

Franco Modigliani entered university at the age of seventeen, enrolling in the faculty of Law at the Sapienza University of Rome.

Franco Modigliani wrote several essays for the fascist magazine Lo Stato where he showed an inclination for the fascist ideological currents critical of liberalism.

In 1938, Franco Modigliani left Italy for Paris together with his then-girlfriend, Serena Calabi, to join her parents there.

From 1942 to 1944, Franco Modigliani taught at Columbia University and Bard College as an instructor in economics and statistics.

Franco Modigliani, beginning in the 1950s, was an originator of the life-cycle hypothesis, which attempts to explain the level of saving in the economy.

In 1985, Modigliani received MIT's James R Killian Faculty Achievement Award.

Nonetheless, they acknowledged his dissenting voice on the issue of unemployment, in which Franco Modigliani concurred early on with heterodox economists that Europe-wide unemployment in the late 20th century was caused by the lack of demand induced by austerity policies.

In 1939, while they were in Paris, Franco Modigliani married Serena Calabi.

Franco Modigliani died in Cambridge, Massachusetts, in 2003, while still working at MIT, and teaching until the last months of his life.