George P. Shultz

Thomas W. and Susan B. Ford Distinguished Fellow
Awards and Honors:
Economic Club of New York Award for Leadership Excellence
(2011)
American Academy of Arts and Sciences
American Philosophical Society
Biography: 

George Pratt Shultz has had a distinguished career in government, in academia, and in the world of business. He is one of two individuals who have held four different federal cabinet posts; he has taught at three of this country’s great universities; and for eight years he was president of a major engineering and construction company.

Shultz was born in New York City on December 13, 1920, and grew up in Englewood, New Jersey. He attended Princeton University, graduating in 1942 with a BA in economics. Shortly after graduation, he enlisted in the US Marine Corps and served through 1945. He then resumed his studies, this time at the Massachusetts Institute of Technology (MIT), where he earned a PhD in industrial economics in 1949. From 1948 to 1957 he taught at MIT, taking a leave of absence in 1955 to serve as a senior staff economist on President Eisenhower’s Council of Economic Advisers.

In 1957, Shultz joined the faculty of the University of Chicago’s Graduate School of Business as a professor of industrial relations. He was named dean five years later. From 1968 to 1969 he was a fellow at the Center for Advanced Study in the Behavioral Sciences at Stanford University. He returned to government when he was appointed secretary of labor by President Nixon in 1969. In June 1970, he became the first director of the newly formed Office of Management and Budget. In May 1972, he was named secretary of the Treasury, a post he held for two years. During this period, Shultz also served as chairman of the Council on Economic Policy, negotiated a series of trade protocols with the Soviet Union, and represented the United States at the Tokyo meeting on the General Agreement on Tariffs and Trade.

Shultz left government service in 1974 to become president and director of the Bechtel Group, where he remained until 1982. While at Bechtel, he maintained close ties with the academic world by joining the faculty of Stanford University.

Shultz held two key positions in the Reagan administration: chairman of the President’s Economic Policy Advisory Board (1981–82) and secretary of state (1982–89). As secretary of state, he played a key role in implementing a foreign policy that led to the successful conclusion of the Cold War and the development of strong relationships between the United States and the countries of the Asia-Pacific region including China, Japan, and the Association of Southeast Asian Nations.

After leaving office, Shultz rejoined the Bechtel Group as director and senior counselor. He also rejoined Stanford as professor of international economics at the Graduate School of Business and as a distinguished fellow at the Hoover Institution. In 2001, Shultz was named the Thomas W. and Susan B. Ford Distinguished Fellow at the Hoover Institution.

In January 1989, Shultz was awarded the Medal of Freedom, the nation’s highest civilian honor. He is also a recipient of the Seoul Peace Prize (1992), the West Point Sylvanus Thayer Award (1992), the Eisenhower Medal for Leadership and Service (2001), the Reagan Distinguished American Award (2002), and the Association for Diplomatic Studies and Training’s Ralph Bunche Award for Diplomatic Excellence (2002). Other honors awarded in 2002 include the Elliot Richardson Prize for Excellence and Integrity in Public Service, the James H. Doolittle Award, and the John Witherspoon Medal for Distinguished Statesmanship. The George Shultz National Foreign Affairs Training Center in Arlington, Virginia, was dedicated in a ceremony on May 29, 2002. Shultz was named a distinguished fellow of the American Economic Association in 2005 and received the American Spirit Award from the National World War II Museum in 2006. In 2007, he received the George Marshall Award from the United States Agency for International Development and the Truman Medal for Economic Policy. He received the Rumford Prize from the American Academy of Arts and Sciences in 2008 and the Commandant’s Leadership Award from the Marine Corps–Law Enforcement Foundation in 2009. In 2011, he received the Congressional Medal of Honor Society’s Distinguished Citizen Award and the first Economic Club of New York Award for Leadership Excellence. In 2012, he was presented with a Democracy Service Medal by the National Endowment for Democracy and received the Henry A. Kissinger Prize at the American Academy in Berlin. The Ronald Reagan Presidential Foundation dedicated the Global Issues and Reagan-Gorbachev Summits Galleries in his honor in June 2012.

Shultz’s publications include Thinking about the Future (Hoover Institution Press, June 2019); Learning from Experience (Hoover Institution Press, October 2016); Issues on My Mind: Strategies for the Future (Hoover Institution Press, 2013); The Nuclear Enterprise: High-Consequence Accidents: How to Enhance Safety and Minimize Risks in Nuclear Weapons and Reactors (Hoover Institution Press, 2012), coedited with Sidney Drell; Ideas & Action: Featuring 10 Commandments for Negotiations (2010); Ending Government Bailouts as We Know Them (Hoover Institution Press 2010), coedited with Kenneth E. Scott and John Taylor; Putting Our House in Order: A Citizen’s Guide to Social Security and Health Care Reform, with John B. Shoven (2008); Turmoil and Triumph: My Years as Secretary of State (1993); Economic Policy beyond the Headlines, with Kenneth Dam (1977); Workers and Wages in the Urban Labor Market, with Albert Rees (1970); Guidelines, Informal Controls, and the Marketplace, with Robert Aliber (1966); Strategies for the Displaced Worker: Confronting Economic Change, with Arnold Weber (1966); Management Organization and the Computer, with Thomas Whisler (eds.) (1960); Labor Problems: Cases and Readings, with John Coleman (1959); The Dynamics of a Labor Market, with Charles Myers (1951); Pressures on Wage Decisions (1951); "Case Study No. 10," with Robert P. Crisara, in Causes of Industrial Peace under Collective Bargaining (1951); and "Case Study No. 7," with Charles A. Myers, in Causes of Industrial Peace under Collective Bargaining (1950).

Shultz holds honorary degrees from Notre Dame, Columbia, Loyola, University of Pennsylvania, Rochester, Princeton, Carnegie-Mellon, City University of New York, Yeshiva University, Weizmann Institute of Science, Baruch College of New York, Hebrew University of Jerusalem, Tbilisi State University in the Republic of Georgia, Technion, Keio University in Tokyo, Williams College, and Peking University.

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Global Nuclear Policy Experts Discuss Emerging Technology, Nuclear Non-Proliferation

featuring George P. Shultz, Sam Nunn, Hoover Institutionvia Stanford Daily
Friday, November 8, 2019
“The risk of a nuclear weapon being used somewhere in the world is probably trending in the wrong direction,” said Ernie Moniz, former U.S. Secretary of Energy and co-chair of the Nuclear Threat Initiative, a nonprofit that works to prevent nuclear catastrophe. “[The issue of] preventing the spread of nuclear weapons is a very, very important and timely one.”
Policy BriefsFeatured

George P. Shultz On The Danger Of Empty Threats

by George P. Shultzvia PolicyEd
Wednesday, November 6, 2019

Former Secretary of State and Hoover Distinguished Fellow George P. Shultz discusses the dangers of making empty threats.

Featured

Addressing Nuclear Proliferation Needs International Leadership, Cooperation, Stanford’s George Shultz Says

interview with George P. Shultzvia Stanford News
Monday, November 4, 2019

Hoover Institution fellow George Shultz shares his thoughts about how to address nuclear proliferation today.

Featured

Open Skies Help Keep The Peace With Russia

by George P. Shultz, William J. Perry, Sam Nunnvia The Wall Street Journal
Sunday, October 20, 2019

Ike’s idea, codified in a 1992 treaty, is still a good one. The U.S. shouldn’t abandon the pact.

George Shultz
Interviews

A Conversation With Former Secretary Of State George Shultz

interview with George P. Shultzvia C-SPAN's The Weekly
Friday, October 18, 2019

Hoover Institution fellow George Shultz talks about climate change, diplomacy, and his life in public service.

Featured

George Shultz Discusses His New Book Thinking About The Future.

interview with George P. Shultzvia C-SPAN
Friday, October 18, 2019

Hoover Institution fellow George Shultz discusses his new book Thinking about the Future.

Featured

George P. Shultz To Republicans: Climate Action Is An Insurance Policy Reagan Would Like

featuring George P. Shultzvia Forbes
Monday, October 14, 2019

When Ronald Reagan got behind the effort to save the ozone layer, there was much less scientific consensus than there is now on climate change. “I had two private meetings a week with President Reagan,” said George P. Shultz, the former president’s secretary of state. “We talked about it. He became convinced that it was a real big problem.” But not all scientists were convinced, and their uncertainty was holding up action.

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Jeb Bush Featured In Hoover Talk On Governance Trends, Democracy

mentioning George P. Shultz, Jim Hoagland, Hoover Institutionvia The Stanford Daily
Monday, October 7, 2019

Former Florida governor Jeb Bush was among a panel of decorated speakers who gathered on Tuesday to discuss how modern social and political dynamics are affecting the current state of government, journalism and policy in America.

Lessons From The Hoover Policy Boot CampFeatured

America and Strategies For The Future With George P. Shultz

by George P. Shultzvia PolicyEd
Thursday, October 3, 2019

Former Secretary of State George Shultz discusses the importance of strengthening our nation’s leadership, the impact other countries have on the United States, and the dangers of making empty threats.

Blueprint for AmericaFeatured

Blueprint For America: The Art And Practice Of Governance

by George P. Shultzvia PolicyEd
Tuesday, September 24, 2019

Managing governmental spending, guiding private enterprise, maintaining global alliances, and educating the next generation are America’s top priorities that have not changed over time. However, good governance is needed to sustain and realize these long-term goals.

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