James Duesenberry
Encyclopedia
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 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.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
economist
Economist
An economist is a professional in the social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy...
. 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
Kenneth Arrow
Kenneth Joseph Arrow is an American economist and joint winner of the Nobel Memorial Prize in Economics with John Hicks in 1972. To date, he is the youngest person to have received this award, at 51....
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 it outperforms the alternative theories that displaced it in the 1950s.
Duesenberry attended the University of Michigan
University of Michigan
The University of Michigan is a public research university located in Ann Arbor, Michigan in the United States. It is the state's oldest university and the flagship campus of the University of Michigan...
, where he earned his Bachelor of Arts
Bachelor of Arts
A Bachelor of Arts , from the Latin artium baccalaureus, is a bachelor's degree awarded for an undergraduate course or program in either the liberal arts, the sciences, or both...
in 1939, his Master of Arts
Master of Arts (postgraduate)
A Master of Arts from the Latin Magister Artium, is a type of Master's degree awarded by universities in many countries. The M.A. is usually contrasted with the M.S. or M.Sc. degrees...
in 1941, and his Doctor of Philosophy
Doctor of Philosophy
Doctor of Philosophy, abbreviated as Ph.D., PhD, D.Phil., or DPhil , in English-speaking countries, is a postgraduate academic degree awarded by universities...
in 1948. He served as professor of economics at Harvard University
Harvard University
Harvard University is a private Ivy League university located in Cambridge, Massachusetts, United States, established in 1636 by the Massachusetts legislature. Harvard is the oldest institution of higher learning in the United States and the first corporation chartered in the country...
from 1955–1989.