"I have gratitude for the Harvard-Kennedy association," Galbraith said. "It took me into a political role."

After the ceremony, fellow recipient and former Senator George McGovern said Galbraith has made the field of economics more understandable.

"His legacy is that he brings economics down to the level of the common person," McGovern said.

"He's a guy who is always able to make me laugh," McGovern said. "I have profited from his council and am happy he's here today."

Recipients and their guests were treated to fresh shrimp and platters of pastries at a reception after the ceremony. Admirers, including Attorney General Janet Reno greeted Galbraith, who was seated in a wheelchair near the entrance.

Though Galbraith's time at Harvard has been interrupted by his stints in Washington and India, he still calls Cambridge home, living near the Radcliffe Quadrangle.

He is often asked to speak on campus, but says he knows how to get out of events most of the time.

"If you postpone a speaking engagement at Harvard long enough, it may be forgotten," he advised.

And he said he enjoyed the medal ceremony, getting a chance to listen to others speak on his behalf.

"I was pleased to hear the accounts of what I've done," Galbraith said. "Usually when I'm on a platform, I have to speak, so this time it was pleasant to listen."