Most important, I have learned from my colleagues and students.

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From 1966 to 1970 I served as Chairman of the New Haven City Plan Commission.

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The crisis triggered a fertile period of scientific ferment and revolution in economic theory.

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Yale places great stress on undergraduate and graduate teaching. I like teaching, and I do a lot of it.

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The miserable failures of capitalist economies in the Great Depression were root causes of worldwide social and political disasters.

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The greatest good fortune of my return to Cambridge in 1946 was that there, in the spring, I met Elizabeth Fay Ringo. We were married a few months later.

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I was born in Champaign in 1918. From the neighborhood elementary and intermediate schools, I went to the University High School in the twin city, Urbana.

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After the United States entered the war, I joined the Naval Reserve and spent ninety days in a Columbia University dormitory learning to be a naval officer.

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My father also happened to be an intellectual, as learned, literate, informed, and curious as anyone I have known. Unobtrusively and casually, he was my wise and gentle teacher.

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At the time, my personal research objectives were to provide Keynesian economics with more rigorous foundations and to tighten and elaborate the logic of macroeconomic and monetary theory.

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