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Arthur Frank Burns

Arthur Burns
ArthurBurns USArmyPhoto 1955.jpg
United States Ambassador to Germany
In office
June 30, 1981 – May 16, 1985
President Ronald Reagan
Preceded by Walter Stoessel
Succeeded by Richard Burt
Chair of the Federal Reserve
In office
February 1, 1970 – March 8, 1978
President Richard Nixon
Gerald Ford
Jimmy Carter
Deputy James Robertson
George Mitchell
Stephen Gardner
Preceded by Bill Martin
Succeeded by William Miller
Counselor to the President
In office
January 20, 1969 – November 5, 1969
President Richard Nixon
Preceded by Position established
Succeeded by Bryce Harlow
Pat Moynihan
Chair of the Council of Economic Advisers
In office
March 19, 1953 – December 1, 1956
President Dwight Eisenhower
Preceded by Leon Keyserling
Succeeded by Raymond Saulnier
Personal details
Born (1904-08-27)August 27, 1904
Stanislau, Austria-Hungary
(now Ivano-Frankivsk, Ukraine)
Died June 26, 1987(1987-06-26) (aged 82)
Baltimore, Maryland, U.S.
Political party Republican
Spouse(s) Helen Bernstein
Education Columbia University (BA, MA)
Academic career
Doctoral
advisor
Wesley Clair Mitchell
Doctoral
students
Arthur Melvin Okun

Arthur Frank Burns (August 27, 1904 – June 26, 1987) was an American economist. His career alternated between academia and government. From 1927 to the 1970s, Burns taught and researched at Rutgers University, Columbia University, and the National Bureau of Economic Research.

Burns was the chairman of the U.S. Council of Economic Advisors from 1953 to 1956 under Dwight D. Eisenhower's presidency. In 1953, he stated the American economy's "ultimate purpose is to produce more consumer goods." He served as the Chairman of the Federal Reserve from 1970 to 1978 and as Ambassador to West Germany from 1981 to 1985.

Burns was born in Stanisławów (now Ivano-Frankivsk), Austrian Poland (Galicia), a province of the Austro-Hungarian Empire, in 1904 to Polish-Jewish parents, Sarah Juran and Nathan Burnseig, who worked as a house painter. He showed aptitude early in his childhood, when he translated the Talmud into Polish and Russian by age six and debated socialism at age nine. In 1914, he immigrated to Bayonne, New Jersey, with his parents.

At age 17, Burns enrolled in Columbia University on a scholarship offered by the university secretary. He worked in jobs ranging from postal clerk to shoe salesman during his time at Columbia as a student before earning his B.A. and M.A. in 1925, graduating Phi Beta Kappa.

After college, he began teaching economics at Rutgers University in 1927, a role that he continued until 1944. Burns through his lectures became one of two professors, the other being Homer Jones, credited by Milton Friedman as a key influence for his decision to become an economist. Burns had convinced Friedman, Rutgers class of 1932, that modern economics could help end the Great Depression.


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