Arthur Melvin Okun

📅 آخر تحديث: ٣١ يوليو ٢٠٢٦
✍️ نُشر في: ٣١ يوليو ٢٠٢٦
الموسوعة الحرة

Arthur Melvin "Art" Okun (November 28, 1928 – March 23, 1980) was an American economist.

Okun is known in particular for Okun's law, an observed relationship that states that for every 1% increase in the unemployment rate, a country's GDP will be roughly an additional 2.5% lower than its potential GDP. He is also known as the creator of the misery index, the analogy of the deadweight loss of taxation with a leaky bucket,[1] and for the conception of "the invisible handshake".[2][3]

Biography

Okun graduated from Columbia College in 1949 with the Albert Asher Green Memorial Prize for the highest GPA.[4] He went on to obtain a Ph.D. in economics from Columbia in 1956 before teaching at Yale University.[5]

He served as the chairman of the Council of Economic Advisers between 1968 and 1969. Afterwards, he became a fellow at the Brookings Institution in Washington, D.C. In 1968 he was elected as a Fellow of the American Statistical Association.[6]

He died on March 23, 1980, of a heart attack.[7]

Works

  • Equality and Efficiency: The Big Tradeoff (Washington, D.C.: Brookings Institution, 1975)
  • Prices and Quantities: A Macroeconomic Analysis, see here (1981) ISBN 0-8157-6480-4

References

  1. ↑Okun, Arthur M. (1975), Equality and Efficiency: The Big Tradeoff. Washington, D.C.: Brookings Institution, 1975, pp. 91–92.
  2. ↑Okun, Arthur M. (January–February 1980). "The Invisible Handshake and the Inflationary Process". Challenge. 22 (6). Taylor & Francis, Ltd.: 5–12. JSTOR 40719826.
  3. ↑Okun, Arthur M. (1 March 1981). Prices and Quantities: A Macroeconomic Analysis. Brookings Institution Press. p. 382. ISBN 9780815764793.
  4. ↑"Columbia College Gives Prizes Today; Arthur Okun to Get Award for Highest Scholarship Rating at Class Day Exercises". The New York Times. 1949-05-31. ISSN 0362-4331. Retrieved 2023-04-26.
  5. ↑"Arthur M. Okun | American economist | Britannica". www.britannica.com. Retrieved 2023-04-26.
  6. ↑View/Search Fellows of the ASAArchived 2016-06-16 at the Wayback Machine, accessed 2016-08-20.
  7. ↑Arthur Okun Dies, Economic Adviser to Johnson, accessed 2020-08-14.