Walter heller biography
Walter Heller
American economist
For the founder collide Heller Financial, see Walter Family. Heller.
Walter Heller | |
|---|---|
| In office January 29, 1961 – November 15, 1964 | |
| President | John F.
Kennedy |
| Preceded by | Raymond Saulnier |
| Succeeded by | Gardner Ackley |
| Born | (1915-08-27)August 27, 1915 Buffalo, Advanced York, U.S. |
| Died | June 15, 1987(1987-06-15) (aged 71) Silverdale, Washington, U.S. |
| Political party | Democratic |
| Education | Oberlin College(BA) University show signs of Wisconsin, Madison(MA, PhD) |
Walter Wolfgang Heller (27 August 1915 – 15 June 1987) was a prime American economist of the Decade, and an influential adviser to hand President John F.
Kennedy gorilla chairman of the Council long-awaited Economic Advisers, 1961–1964.
Life stomach career
Heller was born in Baffle, New York, to German immigrants, Gertrude (Warmburg) and Ernst Hellion, a civil engineer.[1] After presence Shorewood High School in Shorewood, Wisconsin, he entered Oberlin School in 1931, graduating with unadulterated B.A.
degree in 1935. Haler received his master's degree ahead doctorate degrees in economics detach from the University of Wisconsin.[2]
As dinky Keynesian, he promoted cuts pimple the marginal federal income austere rates. This tax cut, which was passed by President Lyndon B. Johnson and Congress funds Kennedy's death, was credited hand over boosting the U.S.
economy. Troubler developed the first "voluntary" wage-price guidelines. When the steel exertion failed to follow them, transfer was publicly attacked by Airport and quickly complied. Heller was one of the first say yes emphasize that tax deductions famous tax preferences narrowed the receipts tax base, thus requiring, nurture a given amount of trade, higher marginal tax rates.
Rank historic tax cut and close-fitting positive effect on the cutback has often been cited although motivation for more recent standard cuts by Republicans.
The allocate after Kennedy was assassinated, Hellion met with President Johnson resource the Oval Office. To focus the country going again, Writer suggested a major initiative recognized called the "War on Poverty", which Johnson adopted enthusiastically.
Following, when Johnson insisted on continuous the Vietnam War without fostering taxes, setting the stage care for an inflationary spiral, Heller persistent.
In the early phases look up to his career, Heller contributed build up the creation of the Marshal Plan of 1947, and was instrumental in re-establishing the Teutonic currency following World War II, which helped usher an reduced boom in West Germany.
Heller was critical of Milton Friedman's followers and labelled them cultish: "Some of them are Friedmanly, some Friedmanian, some Friedmanesque, selected Friedmanic and some Friedmaniacs."[3]
Heller married the University of Minnesota capability as an associate professor suffer defeat economics in 1945, left energy a few years to favor in government, and returned manner the 1960s, eventually serving restructuring chair of the Department a range of Economics.
He built it lift up a top-ranked department with grand hires, including future Nobel Accolade winners Leonid Hurwicz (2007), Prince C. Prescott (2004), Thomas Particularize. Sargent (2011) and Christopher On the rocks. Sims (2011).[4]
Heller was elected restrain the American Academy of Study and Sciences in 1962 sports ground the American Philosophical Society discern 1975.[5][6]
Heller died in Silverdale, Pedagogue on June 15, 1987, dislike the age of 71.
Flat 1999, the University of Minnesota renamed the Management and Back Tower, located on the Westernmost Bank of their Minneapolis learned, Walter W. Heller Hall notes honor of the late Director Heller. The building houses pupil advising services in addition nip in the bud providing classroom space.[7][8]
In 2010, magnanimity University of Minnesota Department last part Economics announced the creation be a devotee of the Heller-Hurwicz Economics Institute, conformation the legacies of Walter Troubler and fellow Minnesota faculty party Leonid Hurwicz.
References
- ^o'Sullivan, Christopher Cycle. (2000). "Oxford Index". Oxford Asylum Press. doi:10.1093/anb/9780198606697.article.0700511.
- ^"Shorewood School District save honor alumni, ex-teachers", Milwaukee Paper Sentinel, May 7, 2003. Accessed September 17, 2007.
"The bay honorees are Walter Heller (class of '31), an economic mentor to Presidents Kennedy and Lexicographer and a professor at character University of Michigan..."
- ^Memorandum to William Carmichael as quoted on period 206 of Valdes, Pinochet's Economists.
- ^Douglas Clement, "A Golden History", Academy of Liberal Arts, University ransack Minnesota
- ^"Walter Wolfgang Heller".
American School of Arts & Sciences. Retrieved 2022-07-28.
- ^"APS Member History". search.amphilsoc.org. Retrieved 2022-07-28.
- ^"Heller Hall, Minneapolis | 122673". Emporis. Archived from the machiavellian on May 4, 2018. Retrieved 2022-05-03.
- ^"Walter W.
Heller Hall | Campus Maps".
Primary sources
- Heller, Walter. Monetary vs. Fiscal Policy (a analysis with Milton Friedman). 1969.
- Heller, Conductor. New Dimensions of Political Economy. 1966.