Background

Albert Gailord Hart was born on March 9, 1909 in Oak Park, Illinois, United States.

Education

Albert Gailord Hart graduated from Harvard College in 1930, and received his Ph.D. from the University of Chicago in 1936.

Career

Albert Gailord Hart began his academic career teaching at Iowa State College as an associate professor in 1939, becoming a professor of economics in 1942. From 1945 to 1946 he joined Chicago’s Committee for Economic Development as a research economist.

Hart was widely viewed as a rising star in the profession, turning down a coveted position at the University of Chicago to take an economics post at Columbia University in 1946. In 1947 he became a professor of economics, a post he held until his retirement in 1977.

He was best known among his peers for his book "Anticipations, Uncertainty and Dynamic Planning", published in 1940.

Mr. Hart's deepest interests were in more practical aspects of economics. Early in his career, he worked on tax policy for the U.S. Treasury and the Committee for Economic Development - in particular on reworking the income tax to make it more equitable.

Later, Hart focused on fine-tuning control of the money supply, the federal government's key lever in trying to contain inflation and smooth the business cycle. During the 1960s, he was a consultant on public finance to the governments of Chile and Venezuela and the Organization of American States.

At the time of his death Albert Gailord Hart was still active as an economist and policy advocate, developing new proposals for understanding business cycles.

Achievements

• Albert Gailord Hart was well known for his research in monetary policy and economic development. In addition, he was best known for his books "Anticipations, Uncertainty and Dynamic Planning", published in 1940, and "Money, Debt and Economic Activity", published in 1948.
  
  The American Economic Association recognized his achievements in 1963, electing him to the largely honorary post of vice president.

Works

More photos

• book

  • Debt, Crisis and Recovery: The 1930's and the 1990's

    (This book provides a perspective by a prominent economist...)

    1995
  • Defense Without Inflation

    (This scarce antiquarian book is a facsimile reprint of th...)

    1951
  • Money, Debt and Economic Activity 1948
  • Anticipations, Uncertainty and Dynamic Planning 1940
  • Debts and Recovery 1929 to 1937 1938
  • The Economic Order 1958
  • Jobs and Markets: How to Prevent Inflation and Depression in the Transition
  • The Social Framework of the American Economy: An Introduction to Economics 1955

Membership

Albert Gailord Hart served as vice president of the American Economic Association beginning in 1962.

• American Economic Association , United States

  1962

Personality

Hart's boundless energy and high-speed chatter gave him a reputation as a campus eccentric, but those who listened respected him for his intellectual insight and generosity.

Quotes from others about the person

• Shirley Johnson-Lens: "People wrote books on ideas Albert tossed out".

Connections

Albert Gailord Hart was married to Ann Webster Hart. The couple had a daughter, Josephine Hart, and a son, Stephen Hart. They also had five grandchildren and four great-grandchildren.

Spouse:

Ann Webster Hart

Daughter:

Josephine Hart

Son:

Stephen Hart

Student:

Shirley Johnson-Lens

References

• Contemporary Authors New Revision Series