Born on June 18, 1918, in Rome, Italy. He became a U.S. citizen in 1946.

Degrees

• Law degree, University of Rome, 1939

• Bachelor of Social Sciences, New School for Social Research, New York, 1944

• LL.D. (Honorary), University of Chicago, 1967

• Honorary Doctorate in Economics, Catholic University of Louvain, Belgium, 1974

• Honorary Doctorate in Economics and Commerce, University Institute of Bergamo, 1979

• Doctor of Humane Letters, Bard College, New York, 1985

• Doctor of Humane Letters, Brandeis University, Waltham, Mass., 1986

• Doctor of Humane Letters, New School for Social Research, 1989

• Doctor of Laws, Michigan State University, East Lansing, 1989

Academic Positions

• Institute Professor Emeritus, Massachusetts Institute of Technology (MIT), 1988

• Institute Professor, MIT, 1962–1988

• Professor of Economics and Finance, MIT, 1962

• Professor of Economics, Northwestern University, 1960–1962

• Visiting Professor of Economics, MIT, 1960–1961

• Professor of Economics and Industrial Management, Carnegie Institute of Technology, 1952–1960

• Visiting Professor of Economics, Harvard University, 1957–1958

• Fulbright Lecturer, Universities of Rome and Palermo, Italy, 1955

• Associate Professor, 1949; Professor of Economics, 1950–1962, University of Illinois

• Instructor, New School for Social Research, 1946–1948

• Head of the Department of Statistics, Institute of World Affairs, New York

• Associate Instructor in Economics and Statistics, Bard College, Columbia University, 1942–1944

• Instructor in Economics and Statistics, New Jersey College for Women, 1942

Honors and Awards

• Member of the Econometric Society, 1949

• Elected to the American Academy of Arts and Sciences in 1960; Council Member, 1978–1980

• Award from the Journal of Business for the best contribution of 1961 (with Merton H. Miller for “Dividend Policy, Growth and the Valuation of Shares”)

• Member of the National Academy of Sciences, 1973

• Graham and Dodd Plaque (with Gerald Pogue) for the outstanding article “An Introduction to Risk and Return Concepts and Evidence, Parts I and II” published in the Financial Analysts Journal, 1974, by the Financial Analysts Federation

• Graham and Dodd Plaque (with Richard Cohn) for the outstanding article “Inflation, Rational Valuation and the Market,” published in the Financial Analysts Journal, 1979, by the Financial Analysts Federation

• James R. Killian Faculty Achievement Award, 1985

• Alfred Nobel Memorial Prize in Economic Sciences, 1985

• Knight Grand Cross, awarded by President Cossiga of the Italian Republic, 1985

• Guido Dorso Award; National Award for Southern Studies, Naples, 1989

• Stivale D’Oro Award, Villa Nobel of San Remo, Italy, 1991

Professional Associations and Positions Held

• Member of the American Economic Association, American Finance Association, Econometric Society (President in 1962), International Economic Association, Italian Economic Society

• American Economic Association: Member of the Publications Committee, 1963–68; Executive Committee Member, 1967–69; Vice President, 1971; President-Elect, 1975; President, 1976; Member of the Honorary Membership Committee, 1983

• American Finance Association: Vice President and President-Elect, 1980; President, 1981

• Econometric Society: Council Member, 1960; Vice President, 1961; President, 1962

• International Economic Association: Vice President, 1976–83; Chairman of the Nominating Committee, 1982–83; Honorary President, 1983

• Accademia Nazionale dei Lincei, Member since 1991

Other Professional Activities

• Social Science Research Council: Member of the Board of Directors, 1963–68; Member of the Committee on Economic Stability and Growth, 1970; Co-Chair of the MIT-Pennsylvania-SSRC Advisory Subcommittee; Member of the Subcommittee on Monetary Research, 1970–77

• Member of COSPOS (Committee for Political and Social Science), representing the Social Science Research Council, 1969–1973

• Member of the Italian Council for Social Sciences, 1974

• Member of the Editorial Advisory Board, Antitrust Law and Economics Review, 1985

• Member of the Advisory Board, Journal of Money, Credit and Banking, 1969

• Member of the Division of Behavioral Sciences, National Research Council, 1970–73; Executive Committee Member, 1970–72

• Permanent Member of the Conference on Income and Wealth, National Bureau of Economic Research

• Consultant to the U.S. Treasury Department, 1964–72

• Academic Advisor to the Board of Governors of the Federal Reserve System

• Member, Committee on Monetary Statistics, Board of Governors of the Federal Reserve System, 1974–76

• Senior Advisor to the Brookings Panel on Economic Activity, 1971

• Consultant to the Bank of Italy, Rome

• Contributor to Corriere Della Sera, Milan, Italy; La Repubblica, Rome, Italy; and occasional contributor to other non-professional newspapers