Shultz, George Pratt,
1920-, American public official, b. New York City, grad. Princeton, 1942, Ph.D., Massachusetts Institute of Technology, 1949. A professor of industrial relations, Shultz taught at the Massachusetts Institute of Technology (1946-57) and the Univ. of Chicago (1957-68). Under President Richard Nixon, he served as secretary of labor (1969-70), director of the Office of Management and Budget (1970-72), and secretary of the treasury (1972-74). After several years in private business, he served as secretary of state (1982-89) in President Ronald Reagan's administration. Known for his ability to effect compromises, he was criticized for failing to oppose more strongly the operations that led to the Iran-contra affair
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