\"Provost of Princeton\" Albert Rees Hand Signed FDC Dated 1956 For Sale

Up for sale "Provost of Princeton" Albert Rees Hand Signed First Day Cover Dated 1956. 

ES-3205

Albert E. Rees (August

21, 1921 – September 5, 1992) was an American economist and noted author. An

influential labor economist, Rees

taught at Princeton University from

1966 to 1979, while also being an advisor to President Gerald Ford. He was also a former Provost of Princeton

and former president of the Alfred P. Sloan Foundation

 He was also the first head of the Council on Wage and Price Stability, a short-lived federal agency. Born in New York City, Rees earned his bachelor's degree from Oberlin College in 1943. He later received his master's

degree and his doctorate in economics from the University of Chicago. After obtaining his Ph.D. in 1950, he would go on to chair the

economics department at Chicago from 1962-1966 before moving to Princeton as

economics chair there. He would later co-author a landmark labor study

with George P. Shultz. Another

notable book, The Economics of Work and Pay, remained in print

for two decades over at least six editions at Harper Collins. Notable doctoral students at Princeton

would include the future Nobel Laureate James Heckman. He won many awards, including

a Guggenheim Fellowship in

1969 and election to the American

Academy of Arts and Sciences in 1971. Rees died on

September 5, 1992, at University Medical Center of Princeton. Since 1997, Princeton

University awards the "Albert Rees Prize" for an outstanding

dissertation in labor economics. Oberlin College has also established multiple Albert Rees

prizes, including a Fellowship and an Assistantship. Duke University Libraries has

a special collection with his papers. Additional special collections

at George Mason University

Libraries and the Ford Presidential Library house

archives for the Council on Wage and Price Stability, of which he was the

founding director. The Council on Wage and Price Stability (COWPS

or CWPS) Act was signed into law by President Ford in 1974, with Rees as the new agency's

first head. It replaced the formal price controls from the Nixon administration authorized

under its precursor, the Economic Stabilization Act

of 1970 and its related agency, the Pay Board and Price

Commission. The council continued under President Carter (with Alfred E. Kahn replacing Rees as its head under the new

administration). When Reagan took office in 1981, CWPS economists moved to the

newly formed Office of

Information and Regulatory Affairs. Some labor and economic

regulator responsibilities merged back into their historic homes with the National Labor Relations

Board and the Council of Economic

Advisors.