Arthur Melvin "Art" Okun was an American economist.
He is known for his stating of Okun’s Law which says that for every 2 percent that real gross domestic product (GDP) falls below its trend, there will be a 1 percent increase in the unemployment rate. Okun discovered the law while he was a senior economist with President John F. Kennedy's Council of Economic Advisers (CEA).
He died unexpectedly from a heart attack on March 23, 1980, in Washington D.C., at the age of 51.
- US Council of Economic Advisers Member (1964-69),Chairman (1968-69)
- US Council of Economic Advisers Staffer (1961-62)
- Brookings Institution Senior Fellow (1969-80)
- University: BA, Columbia University (1949)
- University: PhD, Columbia University (1956)
- Professor: Yale University