- Born
- Died
- Birth namePaul Winston McCracken
- Paul McCracken was born on December 29, 1915 in Winston, Iowa, USA. He was married to Emily Ruth Siler. He died on August 3, 2012 in Ann Arbor, Michigan, USA.
- SpouseEmily Ruth Siler(1942 - 2005) (her death, 2 children)
- He chaired the American Enterprise Institute's Council of Academic Advisors and served as interim president of the institute in 1986.
- He held a M.A. from Harvard University in Economics and a B.A. from William Penn University in Oskaloosa, Iowa in 1937.
- While a professor, Mr. McCracken served two Democratic presidents: John F. Kennedy, as a member of a task force on the domestic economy, and Lyndon B. Johnson, as part of a commission on budgetary accounting.
- He was the Edmund Ezra Day Distinguished University Professor Emeritus of Business Administration, Economics, and Public Policy at the University of Michigan.
- A moderate Republican who served as an economic adviser to both Republican and Democratic presidents and who led President Richard M. Nixon's largely unsuccessful effort to tame the rising inflation of the late 1960s and early 1970s,.
- But it's slow and erratic pace and the political requirement were not compatible.
- Government was never during the 1970s able to bring itself to meet the first fundamental requirement of a successful price-stabilization policy--namely, that its policies quite simply, would not accommodate inflation.
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