Frederick V. Waugh

In his 50 years in the agricultural economics profession, Dr. Waugh developed many theories and measurement techniques that are now commonplace. He stressed the application of these methods to the several generations of economists he helped train. He pioneered the use of applied economics and the use of food stamp and food distribution programs to benefit both farmers and low-income families. He also introduced the view that volatile prices benefit consumers but not necessarily farmers and government has an appropriate role to play in ensuring adequate supplies.

He received his bachelor's degree from Massachusetts Agricultural College in 1922, his master's degree from Rutgers University in 1924 and his Ph.D. from Columbia University in 1929. Prior to beginning his education, Dr. Waugh was awarded the Croix de Guerre medal for his service in World War I. He was named a fellow of the AAEA in 1957.