. Lloyd G. Reynolds, economist and scholar, is widely credited with creating the field of labor economics. In 1945, Reynolds joined the faculty of Yale University, where six years later, he became chair of the Department of Economics. Reynolds remained at Yale until his retirement in 1980. Galbraith and Reynolds were great friends over the years. Reynolds was part of Galbraith's first trip to the Soviet Union and is mentioned in several of Galbraith's books and memoirs.