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James Duesenberry

James Duesenberry
Born (1918-07-18)July 18, 1918
West Virginia
Died October 5, 2009(2009-10-05) (aged 91)
Nationality United States
Institution Harvard University
Field Microeconomics
Behavioral economics
School or
tradition
Neo-Keynesian economics
Alma mater University of Michigan
Doctoral
advisor
Arthur Smithies
Doctoral
students
Thomas Schelling
Edwin Kuh
John R. Meyer
Harry Gordon Johnson
Influences John Maynard Keynes
Michał Kalecki
John Hicks
Paul Samuelson
Contributions Relative income hypothesis

James Stemble Duesenberry (July 18, 1918 – October 5, 2009) was an American economist. He made a significant contribution to the Keynesian analysis of income and employment with his 1949 doctoral thesis Income, Saving and the Theory of Consumer Behavior. Kenneth Arrow believed that it offered "one of the most significant contributions of the postwar period to our understanding of economic behavior". His theory, however, later disappeared from standard textbooks, although some, such as Robert H. Frank, argue that it outperforms the alternative theories that displaced it in the 1950s.

Duesenberry attended the University of Michigan, where he earned his Bachelor of Arts in 1939, his Master of Arts in 1941, and his Doctor of Philosophy in 1948. He served as professor of economics at Harvard University from 1955–1989.


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