Leonard Alan Rapping was an American economist, who advised several Federal agencies.
13 Facts About Leonard Rapping
2.
Leonard Rapping helped develop theories on the interplay of human behavior and business cycles.
3.
Leonard Rapping was most famous for his work with Robert E Lucas which laid the foundations for real business cycle theory, which holds that the financial expectations of business executives and consumers help mold their decisions, therefore influencing economic outcomes.
4.
At the time of his death, Rapping was completing a book for the 20th Century Fund, called The Wage Crunch, on the social and economic effects of the slowdown in American wages in recent years.
5.
Early in his career, Leonard Rapping held a laissez-faire view of a government's role in the economy but grew to believe capitalism needed regulation.
6.
Leonard Rapping was with the Center for Naval Analysis, and Northwestern University's Transportation Center.
7.
Shortly before his death, Leonard Rapping served as Director of the National Academy of Science's Panel on Technology and Employment.
8.
Leonard Rapping was Professor of Economics at the University of Massachusetts Amherst.
9.
Leonard Rapping taught at Brandeis University, University of Notre Dame, the University of Nevada, San Fernando State College, and UCLA.
10.
Leonard Rapping obtained his bachelor's degree from UCLA, 1956, Phi Beta Kappa, Master of Arts, University of Chicago, 1958 and Doctor of Philosophy in Economics, University of Chicago, 1961.
11.
The son of Joseph and Rose, Leonard Rapping was born in Indianapolis.
12.
Leonard Rapping had a sister, Hanna Lee Rapping Jutovsky, and a brother, Richard.
13.
Leonard Rapping married Judith Alt Wilson in 1980, becoming stepfather to her daughter and son.