Early Life, Education
George Shultz was born in New York City, the only child of Margaret Lennox (née Pratt) and Birl Earl Shultz. Contrary to common assumption, Shultz is not a member of the Pratt family associated with John D. Rockefeller and the Standard Oil Trust. He grew up in Englewood, New Jersey.
In 1938, Shultz graduated from the Loomis Chaffee School in Windsor, Connecticut. He earned a bachelor's degree, cum laude, at Princeton University, in economics with a minor in public and international affairs. His senior thesis examined the Tennessee Valley Authority's effect on local agriculture, for which he conducted on-site research. Shultz graduated with honors in 1942.
Shultz was on active duty in the U.S. Marine Corps 1942–1945. He was an artillery officer, attaining the rank of Captain. He was detached to the U.S. Army 81st Infantry Division during the Battle of Angaur (Battle of Peleliu).
In 1949, Shultz earned a Ph.D. in industrial economics from the Massachusetts Institute of Technology.
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