Key Facts
Career & Education
About
Victor Robert Fuchs (January 31, 1924 – September 16, 2023) was a renowned health economist, widely regarded as the 'dean of health economics' for his pioneering work on healthcare costs, the economics of aging, and cost-benefit analyses of medical care. Born in New York City, he served as a Private First Lieutenant in the U.S. Army Air Force from 1943 to 1946 during World War II. After the war, Fuchs worked in his father's furrier business while earning a B.S. cum laude in business administration from New York University (1947), an M.A. from Columbia University (1951), and a Ph.D. in economics from Columbia University (1955). He joined Stanford University in 1974 with a joint appointment in the Department of Economics and the Department of Health Research and Policy, holding the Henry J. Kaiser Jr. Professor of Economics and of Health Research and Policy, emeritus, and serving as a senior fellow emeritus at the Stanford Institute for Economic Policy Research (SIEPR). Fuchs retired from teaching in 1995 but continued research and mentoring until his death. His seminal 1974 book Who Shall Live? Health, Economics, and Social Choice—a foundational cost-benefit analysis of U.S. medical care—remained influential, with a third edition co-authored by Karen Eggleston in 2023. A research associate at the National Bureau of Economic Research (NBER) from 1962 until his death, Fuchs received numerous honors, including presidency of the American Economic Association (1995), Distinguished Fellow of the AEA (1990), Fellow of the American Academy of Arts and Sciences (1982), Member of the Institute of Medicine (1971), Member of the American Philosophical Society (1990), the John R. Commons Award (2002), and the Baxter Foundation Health Services Research Prize (1991). In his personal life, he was married to Beverly Beck from 1948 until her death in 2007, and was a widower with four children and nine grandchildren. He resided at 796 Cedro Way, Stanford, CA 94305, with professional email vfuchs@stanford.edu, until his death at age 99 at his home on the Stanford campus.