Richard Lipsey

Richard Lipsey
Born
Richard George Lipsey

(1928-08-28) August 28, 1928 (age 96)
Victoria, British Columbia, Canada
OccupationEconomist
Spouses
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(m. 1952, divorced)​
Diana Lipsey née Smart
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(m. 1961⁠–⁠2021)​
AwardsOrder of Canada, Fellow of the Royal Society of Canada, Social Sciences and Humanities Research Council of Canada Gold Medal for Lifetime Achievement

Richard George Lipsey, OC FRSC (born August 28, 1928) is a Canadian academic and economist. He is best known for his work on the economics of the second-best, a theory that demonstrated that piecemeal establishing of individual first best conditions would not necessarily raise welfare in a situation in which all first best conditions could not be satisfied, an article that he co-authored with Kelvin Lancaster.[1] He is currently Professor Emeritus of Economics at Simon Fraser University.

  1. ^ Lipsey, R. G.; Lancaster, Kelvin (1956). "The General Theory of Second Best". Review of Economic Studies. 24 (1): 11–32. doi:10.2307/2296233. JSTOR 2296233.