 Late 1920s Karsten founded the Karsten Forecasts, inc. in New Haven, and early 1930s the Irving Fisher Index Number Institute with Irving Fisher also in New Haven, CT. From 1934 to 1942 he was appointed in multiple federal agencies.Karsten had joint the Liberal Club of New York and the Anti-Militarism League in the 1910s.In 1917 he married his first wife Elinor Cox, and had a daughter together.