William Penn College, and Harvard University.
He held a Master of Arts from Harvard University in Economics and a Bachelor of Arts from William Penn University. He was the Edmund Ezra Day Distinguished University Professor Emeritus of Business Administration, Economics, and Public Policy at the University of Michigan. McCracken was chairman of the President"s Council of Economic Advisors from 1969 to 1971 under President Richard Nixon.
He was head of a committee that worked to a Organization of European Cooperation and Development"s report commissioned by Secretary of State Henry Kissinger in late 1974 with title Towards full employment and price stability.
His report is retrosectively considered as a neoliberal or monetarist turning point. He chaired the American Enterprise Institute"s Council of Academic Advisors and served as interim president of the institute in 1986.
He died on August 3, 2012 at age 96.
Faculty, Foundation School, Berea College, Kentucky 1937-1940. Council of Economics Advisers, Washington 1956-1959.
Married East. Ruth Siler in 1942.