Gardner Ackley

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Gardner Ackley

Hugh Gardner Ackley (* thirtieth June 1915 in Indianapolis , Indiana ; † 12. February 1998 in Ann Arbor , Michigan ) was an American economist and diplomat , among other things, Chairman of the Council of Economic Advisers and a leading representative of macroeconomics was .

Life

After attending school, Ackley first studied at Western Michigan University , where he earned a Bachelor of Arts (BA). He then completed a postgraduate course at the University of Michigan with a Master of Arts (MA) before he received a Philosophiae Doctor (Ph.D.) there . He also became a member of the Phi Kappa Phi and Tau Kappa Alpha Academic Societies.

After a brief professorship at Ohio State University , he became professor of economics at the University of Michigan in 1940 and taught there until 1984. During World War II , he also served in the office from 1941 to 1943 and from 1944 to 1946 With price control in Washington, DC and was between 1943 and 1944 employee in the Office of Strategic Studies ( Office of Strategic Studies ).

He later worked in Rome as part of the Fulbright Program from 1956 to 1957 , before working as a research fellow for the Ford Foundation from 1961 to 1962 . In 1961 he published his standard work Macroeconomic Theory , through which he became a leading exponent of macroeconomics of his time.

In 1962 he became a member of the Council of Economic Advisers, then between 1964 and 1968 its chairman and as such one of the closest economic policy advisers to President Lyndon B. Johnson . In this capacity, he informed President Johnson that the US could only cope with the strains of the Vietnam War and the extensive social policy measures to combat poverty and racial discrimination through tax increases, which did not occur until 1968. The lag in these necessary tax hikes was later seen by economists such as Nobel laureate in economics Paul A. Samuelson as one of the reasons for the high inflation in the 1970s.

He was then ambassador to Italy from 1968 to 1969 .

Ackley, who was also an advisor to the Federal Reserve System and the Treasury Department , was also a Fellow of the American Academy of Arts and Sciences (1968) and a Distinguished Fellow of the American Economic Association and an elected member of the American Philosophical Society (1972). In 1982 he was also elected President of the American Economic Association (AEA).

In 1970 he was honored with the Distinguished Alumni Award Recipient from the Western Michigan University Alumni Association.

Web links

Individual evidence

  1. ^ Past and Present Officers. aeaweb.org ( American Economic Association ), accessed October 27, 2015 .
  2. ^ Distinguished Alumni Award Recipient , Western Michigan University homepage