I am sorry to report that we have learned that longtime UCSC economist Richard Musgrave, regarded as the founder of modern public finance, died earlier this week. Richard, who was an adjunct professor on campus for many years, was 96.
As his colleagues noted upon his passing, Richard was a "giant" in the field, focusing attention on the effects of tax policy. He was also unwavering in his belief that economists could make positive contributions to government, and therefore society.
Two of Richard's books became classics in their field: The Theory of Public Finance: A Study in Public Economy (1958); and Public Finance in Theory and Practice (1973), coauthored with his wife, UCSC faculty emerita Peggy Musgrave.
The list of Richard's awards and honors is extensive and includes his election to the National Academy of Sciences in 1986.
Please join me in extending our deepest condolences to Peggy, other family members, and to Richard's many friends and colleagues. Details regarding a memorial service have not been finalized.
For more information about Richard's exceptional career, please see an obituary distributed today by our Public Information Office: http://press.ucsc.edu/text.asp?pid=1026.
