Dale Jorgenson, Clark Medalist 1971
Citation on the Occasion of the Presentation of the Medal
Dale Jorgenson has left his mark with great distinction on pure economic theory (with, for example, his work on the growth of a dual economy); and equally on statistical method (with, for example, his development of estimation methods for rational distributed lags). But he is preeminently a master of the territory between economics and statistics, where both have to be applied in the study of concrete problems. His prolonged exploration of the, determinants of investment spending, whatever its ultimate lessons, will certainly long stand as one of the finest examples of the marriage of theory and practice in economics.
In appreciation of these ghosts of Christmas Past and in anticipation of Christmas Future, the Association awards to Dale Jorgenson the John Bates Clark medal for 1971.