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, Advisory to the President on Inflation under Jimmy Carter, and Chairman of the Council on Wage and Price Stability, Carter's "inflation czar," until 1980.