Okun, Arthur M., 1928-1980



Okun, Arthur M., 1928-1980


Bio: Arthur M. Okun (1928-1980) was an economist widely known for his formulation Okun's Law, which provides the mathematical relationship between the rate of unemployment and the gross national product. Okun served as a professor economics at Yale University from 1952 to 1963. He was involved with the Council of Economic Advisers, first as a staff economist from 1961 to 1962, as a member of the council from 1964 to 1968, and as chairman of the council from 1968 to 1969. He was a senior fellow at the Brookings Institution from 1969 to 1980.


Clockwise from left: William McChesney Martin, Sec. Henry Fowler, Walt Rostow, Edward Fried, Francis Bator, James Duesenberry, Arthur Okun, Frederick Deming, President Lyndon B. Johnson. Meeting, Oval Office, White House, Washington DC, 3/14/1968. Photo # a5813-25 by Yoichi Okamoto. White House Photo Office collection, LBJ Presidential Library, public domain.


LBJ Connection: Chairman, Council of Economic Advisers, 1968-1969