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Memoir

Paul W. McCracken
Regents' Proceedings 659

Paul W. McCracken, Edmund Ezra Day Distinguished University Professor, School of Business Administration, will retire from active faculty status as of May 31, 1986.

A native of Iowa, Paul McCracken received his A.B. degree from William Penn College in 1937 and from Harvard University his M.A. degree in 1942 and his Ph.D. degree in 1948 in economics. After completing his graduate studies at Harvard, he worked as an economist in the U.S. Department of Commerce, and later as a financial economist and director of research at the Federal Reserve Bank of Minneapolis.

In 1948, Professor McCracken joined the faculty of the School of Business Administration. In 1966, he was recognized for his achievements and his outstanding service by being appointed as the Edmund Ezra Day Distinguished University Professor of Business Administration. Throughout his long and distinguished career, Professor McCracken has served in various advisory roles to several United States Presidents. While on leave from 1956-59, he served as a member of the President's Council of Economic Advisers. In 1969, he returned to Washington for three years to serve as chairman. Currently, he is a member of President Reagan's Economic Policy Advisory Board and serves as chairman of the Council of Economic Advisers, American Enterprise Institute for Public Policy Research in Washington, D.C. Professor McCracken is also active with the International Management and Development Institute in its Fowler-McCracken Commission for achieving economic renewal in the 1980s.

Professor McCracken is the author of numerous papers and monographs on economic and financial policy. Additionally, his over 300 speeches and statements presented to national and international forums attest to the high regard in which he is held by academics, businessmen, government officials, and students. As a result of his writing, research and teaching, Professor McCracken has delivered over 30 distinguished lectures throughout the United States and in several foreign countries.

Above and beyond all of his accomplishments, it can truly be said that Paul McCracken is a humble man and a humane and considerate gentleman. The faculty of the School of Business Administration count it an honor and a privilege to have worked with him and are richer for having had the opportunity to do so.

The Regents now salute this distinguished teacher, eminent scholar, and economist of international acclaim by naming Paul W. McCracken Professor Emeritus of Business Economics and Public Policy.