He was born in Emerson, Nebraska, and spent his youth in Portland, Oregon.

Jones received his undergraduate degree from Reed College, and later earned his PhD from the Brookings Graduate School of Economics and Government (now the Brookings Institution).

During his studies in Europe, he served as an economist on the staff of the League of Nations.

[1] At Arkansas, he began the process of rebuilding the University after World War II.

The Graduate School of Social Work, ranked as one of the finest in the United States, and the Graduate School of Library Science (now part of the School of Communication, Information and Library Science), and the Eagleton Institute of Politics were established during his tenure.