James-Duesenberry-Obituary

James Stemble Duesenberry

Cambridge, Massachusetts

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Cambridge, Massachusetts

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1918 - 2009James Stemble Duesenberry of Belmont and Cambridge, MA died Monday, October 5, 2009, of heart failure. A prominent economist best known for proposing the Relative Income Hypothesis, Prof. Duesenberry was a member of President Lyndon Johnson's Council of Economic Advisors from...

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A much-belated accolade: Jim was my thesis advisor at Harvard, and, along with his good friend John Lintner, he was my mentor. He was a kind and thoughtful man who made a significant contribution to our understanding of the social context of consumption spending, but whose work was too quickly overshadowed by the advent of the more popular mathematically oriented work of others. He was - and remains - a paragon of the best in economics. Thank you, Jim Duesenberry. Peter Fortune

Best economist since Veblen. He was ahead of his time and therefore not duly appreciatet. He will be missed.