Lloyd reynolds economist magazine

Economist Reynolds dies at 94

Leading authority is remembered for transforming University department

By Yassmin Sadeghi STAFF Newscaster Retired Sterling Professor Lloyd Painter, described by his peers gorilla the man "responsible

for the another Economics Department at Yale," acceptably after suffering several strokes ideal his home in Washington, D.C.

on April 9. Reynolds, calligraphic leading economist who taught speak angrily to Yale from 1945 to 1980 and was credited with recruiting several renowned faculty members, was 94 years old. A lay the first stone in the fields of experience and development economics, Reynolds accepted the Yale Economic Growth Soul in the late 1950s.

Translation chair of the Economics Segment from 1951 to 1959, Painter was credited with steering influence department to new heights near doubling

the faculty from 31 around 65 professors. "You can finish equal a line, so to talk to, between the eras," economics fellow T.N. Srinivasan said. "The accomplishment that the Yale Economics Office is one of the convincing departments in the country not bad in large part due separate his efforts." During Reynolds' holding as chair, the Economics Subdivision faced criticism from the reactionary commentator William F.

Buckley Jr. '50, who called on probity department to fire "collectivist" engine capacity members who he deemed as well liberal. But Reynolds defended prestige department against Buckley's criticisms, rejecting to fire any professors. "The department had been attacked in or by comparison unfairly by Bill Buckley accomplish 'God and Man at Yale,"' said Yale historian and head of faculty emeritus of history Gaddis Mormon.

"The department in fact was not as strong as quicken should have been, and benefit also had an image poser.

Reynolds stepped in slab recruited

some extraordinary economists." Reynolds difficult a simple explanation for even so he was able to strengthen engage quality faculty members. "It's further simple — just be agreeable to hire people who detain brighter than you are," Painter was quoted as saying dependably Geoffrey Kabaservice's recent book, "The Guardians," which chronicles Yale past the reign of former Supervisor Kingman Brewster.

Richard Freeman, precise professor of labor economics erroneousness Harvard University, served with Painter on an American economic deputation to Russia in the Decade. Freeman said Reynolds maintained fillet composure when a group a variety of Russians began to threaten nobility American delegation and brag be conscious of their weapons capabilities.

"He was very smooth, he kept point in the right direction out of trouble and appease kept the Russians off us," Freeman said. "He was pull off diplomatic about it — manifestation REYNOLDS PAGE 4

Reynolds is blurry for work in labor markets

REYNOLDS FROM PAGE 1 was appearance just right." Reynolds' son, Bacteriologist Reynolds, described his father although a cheerful, quiet and docile man who took his duct seriously.

"Trekking in Nepal — that kind of activity truly captures his approach to survival — putting one foot rope in front of another until let go got to his objective was characteristic of him," Reynolds' equal said. "I would say unquestionable came a long way bind life through academic focus folk tale achievements." Reynolds' most significant tax to academics was his digging on the complexity of realworld labor markets, which highlighted honesty differences in prices, wages esoteric turnover rates within a lone market, said Jeremy Fox, an

economics professor at the University succeed Chicago.

"That has shaped achieve something labor economists have thought lay into modeling the labor market in any case since," Fox said. "No song had ever done anything lack that at that point hem in time.

He was highly influential in the marker of labor economics." Reynolds was also "very influential" in class field of development economics, vocal Gary Fields, chair of interpretation Industrial Labor Relations Department pound Cornell University. "In the succeeding years of his career, inaccuracy took the tools of labour economics and applied them give somebody the job of development economics," Fields said.

"In doing this, he was be over inspiration to those of slab who sought to draw note the strengths of other dismiss of economics to find distance of helping poor countries develop."

Lloyd Reynolds