Kahn was born in
Paterson, New Jersey, on October 17, 1917, to parents Jacob and Bertha Kahn. His father, a Russian Jewish immigrant, worked in a silk mill. Kahn graduated from high school at 15 and
New York University at 18,
summa cum laude (highest average in his graduating class). He earned his doctorate in economics from
Yale University in 1942 after graduate study at NYU and the
University of Missouri. Before World War II, he also worked for policy research organizations and government agencies in Washington, including the
Brookings Institution and the antitrust division of the
U.S. Justice Department. After serving in the
United States Army, he became Chairman of the Department of Economics at
Ripon College. He moved to
Cornell University in 1947, where he served as chairman emeritus of the Department of Economics (a position he held for the rest of his life), as a member of the Board of Trustees of the university and as Dean of the College of Arts and Sciences. In 1974, he became chairman of the New York Public Service Commission, and later served as Chairman of the Civil Aeronautics Board, Advisor to the President on Inflation under
Jimmy Carter, and Chairman of the
Council on Wage and Price Stability, Carter's "inflation czar," until 1980. While serving under Carter, Kahn became known for his blunt and sometimes politically damaging comments. Convinced that certain administration policies would lead to a
depression, but having been chided for using the term, he began saying that the economy would "become a banana." After banana producers objected, he changed his
euphemism to "kumquat". Professor Kahn died of cancer in
Ithaca, New York at the age of 93, on December 27, 2010. ==Work in deregulation==