Thursday, May 11, 2017

Economy: Allan Meltzer R.I.P.

(Drivebycuriosity) - Unfortunately I learned that Allan Meltzer passed away. He was one of the greatest economists of the 20th century. I met him twice around the year 1990 and was impressed by his kindliness. Even though he belonged to the top stars in economics he was very polite and humble.

Allan Meltzer, together with Karl Brunner, developed monetary theory and explained how monetary policy influences the real world. Meltzer, Brunner & Milton Friedman were the leading economists, called monetarists, who showed that too much monetary growth will induce inflation and so harm the economy. 

Meltzer also worked on many other issues like developing countries, capitalism, government & economy and more and influenced the thinking of economists & politicians.

R.I.P. Prof. Meltzer.

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