Taft attended night school in New York City and obtained a
high school diploma in 1928. At the age of 26, he enrolled at the
University of Wisconsin–Madison and graduated in 1932 with a
bachelor's degree in
economics. He then entered the
doctoral program in economics at the University of Wisconsin–Madison. In graduate school, he took a job conducting research for one of his professors,
Selig Perlman. Taft's contribution to the work was so significant that Perlman made him a co-author on volume four of
History of Labor in the United States in 1935. In the same year he earned his doctorate. Taft worked for the Wisconsin Industrial Commission and the federal
Resettlement Administration before taking a job as an associate economist at the
Social Security Administration in 1936. He was appointed an assistant professor of economics at
Brown University in
Providence,
Rhode Island, in 1937. He was chairman of the Economics Department from 1949 to 1953. Throughout his tenure at Brown, Taft sought to use the university's expertise to improve society. In 1950, President
Harry S. Truman appointed Taft to a committee of experts on the
New England economy under the aegis of the
President's Council of Economic Advisors. In 1952, Taft pushed Brown University to join with a newly formed
Rhode Island businessmen's committee to study the economic problems of the state. In 1963, Taft won a grant from the
Ford Foundation to study the financial difficulties confronting, and the economic impact of, an aging populace. Taft was appointed in 1961 to a committee on labor-management reports established by the
US Department of Labor, where he helped advise the department and draft rules implementing the
Landrum–Griffin Act. ==Retirement and later life==