Shultz, George Pratt

Shultz, George Pratt (1920- ), American economist, educator, industrialist, and public official. Born in New York, Shultz was educated at Princeton University and the Massachusetts Institute of Technology. After heading the business school at the University of Chicago (1962-1968), he served in a succession of federal posts, including Secretary of Labor (1969-1970), Director of the Office of Management and Budget (1970-1972), and Secretary of the Treasury (1972-1974). In 1974 he left Washington for Bechtel, a multinational construction and engineering firm. Shultz held the presidency of Bechtel from 1975 until June 1982, when he was called back to Washington to replace Alexander M. Haig, Jr., as Secretary of State; he continued to serve in that capacity during the second Reagan administration until 1989. Less flamboyant than Haig, he won respect for his steady professionalism and his preference for conciliation rather than conflict.