Professor Lord Peter Bauer, Emeritus Professor of Economics, LSE, sadly died on 2nd May aged 86.
He had recently been awarded the first Milton Friedman Prize for Advancing Liberty, in recognition of his pioneering work in the field of development economics.
The prize, from the Cato Institute, is awarded biennially to an individual who has dedicated his life to the advancement of human freedom. Lord Bauer was nominated by an International Selection Committee whose members include Margaret Thatcher and Václav Klaus.
Lord Bauer taught economics at the LSE from 1960 to 1983 and was made a life peer in 1982. Professor Meghnad Desai of the Economics Department said: "Peter Bauer was a pioneer of what we now believe is the right policy for developing countries...He was a lone but correct voice in telling us to rely on people's initiatives and the market rather than top down intervention. I think the prize is superbly deserved."
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Updated 7 May 2002