In this Mint aritcle, Resident Senior Fellow Vivek Dehejia writes in the memory of the economist James Woodburn Dean.
"Back in 2006, a macroeconomist warned of the dangers to the US and the world economy from an over-leveraged and bloated financial sector and widening wealth and income inequalities in the US and other advanced economies. Further, he predicted—or should I say prophesied—that, should these not be attended to urgently, the US could slip into a recession, or worse. He added that this would eventually lead to a protectionist backlash from those left behind and potentially threaten the entire globalization enterprise.
Born in 1941 in Canada, and with an undergraduate degree in mathematics from Carleton University, James completed a doctorate in economics in 1973 at Harvard University, writing a dissertation on macroeconomics under the supervision of the legendary James Duesenberry. James was always a classical Keynesian in the best sense, even when it was deeply unfashionable, and his views found vindication after the global financial crisis."
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