Burton H. Klein American economist Date of Birth: 16.10.1917 Country: USA

1. Biography of Barton Klein
2. Early Life and Education
3. Early Career
4. Contributions and Achievements
5. Contributions to Economic Theory
6. Later Life and Legacy

Biography of Barton Klein

Barton Klein was an American economist and distinguished professor of economics at the California Institute of Technology (Caltech). He was an expert in the field of dynamic economic theory and had a keen interest in the economics of innovation and its relationship with organizational structure.

Early Life and Education

Barton Klein was born on October 16, 1917, in Minneapolis, Minnesota. He obtained his bachelor's degree in 1940 and his doctoral degree in 1948 from Harvard University.

Early Career

After completing his education, Klein worked for the United States Army alongside renowned economist John Kenneth Galbraith. They provided an economic assessment of German mobilization before World War II to evaluate the effectiveness of strategic bombing. Klein then joined the staff of the President's Council of Economic Advisers and served in that role from 1948 to 1952.

Contributions and Achievements

Klein's work in Germany led him to write the book "Germany's Economic Preparations for War" in 1959, which extensively examined the country's economic policies that culminated in the war. The book was highly successful and widely cited by other scholars. In 1952, Klein became a staff member at the RAND Corporation's Strategic Research Center, and in 1961, he became the head of the Economics Department of the Analytical Center. He served as a special assistant to the U.S. Secretary of Defense from 1963 to 1965.

In 1967, Barton Klein joined the faculty of the California Institute of Technology as a professor of economics. In 1983, he was honored with the title of Distinguished Professor. Klein also worked as a consultant for the Budget Bureau (now the Office of Management and Budget), the Arms Control and Disarmament Agency, the Brookings Institution, as well as the Swedish and Israeli governments.

Contributions to Economic Theory

At Caltech, Klein examined economic concepts through the lens of other disciplines. In his book "Dynamic Economics" (1977), he contrasted the static concept of stability with the dynamic concept. Klein argued that unpredictable behavior at the micro level leads to smooth development at the macro level. In his book "Prices, Wages, and Business Cycles: A Dynamic Theory" (1984), he presented statistical evidence on how the pursuit of micro-stability, especially through government intervention, can lead to larger economic downturns.

Later Life and Legacy

In his later years, Klein became interested in the issue of ensuring the long-term survival of companies. He continued to be involved in writing, although he was unable to complete his last book. His family noted that he remained engaged in current affairs and politics, even campaigning for Barack Obama among residents and staff at his retirement home. In his free time, Klein enjoyed woodworking and making clocks.

Barton Klein passed away on February 12, 2009, at the age of 92, at a retirement home in Santa Barbara, California.