Harold Demsetz, who died Jan. 4 at 88, was one of the greatest economists of the 20th century not to win a Nobel Prize. He made major contributions to the economics of property rights and industrial organization. He was also one of the few top economists of his era to communicate almost entirely in words and not math.
This is the opening paragraph of my article that will appear in the print edition of the Wall Street Journal tomorrow. My piece is titled “Chicago’s Lesser-Known Free Marketeer.” Those who have subscriptions can find it on line here.
Because of my agreement with the Wall Street Journal, I won’t be able to post the whole thing until 30 days from tomorrow.
The picture above, which the WSJ received permission from the Demsetz family to run, shows him at a fairly early age. I met him in early 1970, when he was 39. I think this picture was taken some years before then.