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Arthur M. Okun, presidential adviser

Economist Arthur M. Okun, who passed on here, was once the youngest chief economic adviser to a president. Mr. Okun was only 39 when President Lyndon B. Johnson named him chairman of the Council of Economic Advisers in 1968. At the time of his passing on March 23 he was a senior fellow at the Brookings Institution and had nearly completed a book on stagflation. He devised "Okun's law," which holds that if unemployment is reduced by 1 percent, the real gross national product will increase 3 percent.


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