Charles P. Kindleberger

Charles P. Kindleberger (Charles Poor "Charlie" Kindleberger, born October 12, 1910 in New York City, USA, † July 7, 2003 in Cambridge (Massachusetts ), USA ) was an economist and economic historian. He was a leading expert in the field of international monetary issues. Kindleberger has written more than 30 books. His book Manias, Panics, and Crashes of 1978 on the speculative bubble in the stock market was reissued in 2000 after the collapse of the dotcom bubble. He became known among other things for its hegemonic stability theory.

Life

Kindleberger was born in New York. With his wife Sarah he had four children: Charles P. Kindleberger III, Richard S. Kindleberger; Sarah Kindleberger, and E. Randall Kindleberger. He attended Kent School in Kent, Connecticut and graduated in 1932 from the University of Pennsylvania. His master, he earned at Columbia University, where he gained his doctorate in 1937.

He worked for various American institutions, such as the Federal Reserve Bank of New York (1936-1939), the Bank for International Settlements in Basel (1939-1940) and the Board of Governors of the Federal Reserve System ( 1940-1942 ).

From 1945 to 1947 he was acting director of the Office of Economic Security Policy of the State Department and then from 1947 to 1948 Consultant of the Marshall Plan (European Recovery Program). In 1948, he was Associate Professor (later Ford International Professor of Economics) at the Massachusetts Institute of Technology, 1976 he joined officially retired, but continued his teaching even further. His PhD was one among others, the Canadian Nobel laureate Robert A. Mundell.

As a historical economist to Kindleberger served as evidence more descriptive representations and historical knowledge as mathematical models.

The World in Depression

His book The World in Depression 1929-1939 from 1973 (new edition 1986) shows a specific internationalist approach in the analysis of the causes and the nature of the world economic crisis. For the particular length and extent of the crisis, he makes the reluctance of the United States responsibility to take the lead role in the world economy than the UK, these could no longer work after the First World War. His conclusion is that the global economy for their stabilization requires a stabilizer. He refers, at least in the context of the inter-war period, to the United States.

In his last chapter on Explanation of the 1929 Depression Kindleberger describes the five responsibilities that have to take the United States to stabilize the world economy:

Kindleberger was very skeptical about the monetarist views of Friedman and Schwartz on the causes of depression. He regarded it as too narrow and dogmatic. Samuelson's interpretation, he refused to be random. The World in Depression was praised by John Kenneth Galbraith as the best book on the subject.

In the period 1929-1933 the world trade dropped to one-third of the original level. The Kindleberger Spiral or Spiral World Trade distinguished from the decline of trade.

Honors

Publications

  • International Short -Term Capital Movements. Columbia University Press, New York 1937
  • International Economics. Irwin, Homewood 1953
  • Economic Development. McGraw- Hill, New York 1958
  • Foreign Trade and the National Economy. Yale University Press, New Haven 1962
  • Economic growth in France and Britain, 1851-1950. Harvard University Press, Cambridge 1964
  • Europe and the Dollar. M. I. T. Press, Cambridge 1966
  • Europe's Postwar Growth. The Role of Labor Supply. Harvard University Press, Cambridge 1967
  • American Business Abroad. Yale University Press, New Haven 1969
  • Power and Money. The Economics of International Politics and the Politics of International Economics. Basic Books, New York 1970, ISBN 0465061346
  • The Benefits of International Money. In: Journal of International Economics. 2, November 1972, pp. 425-442
  • The World in Depression. 1929-1939. University of California Press, Berkeley, 1973, ISBN 0520024230; revised and expanded: Penguin Books, Harmondsworth, 1987, ISBN 0140226818 The world economic crisis. From 1929 to 1939. dtv, Munich 1973, ISBN 3-423-04124-2
  • Manias - panics - crash. The history of financial crises in the world. Börsenmedien, Kulmbach 2001, ISBN 3-922669-41-7 Economy: why financial crises are inevitable, review by Martin Hock, Frankfurter Allgemeine Zeitung, 30 September, 2008
Cambridge (Massachusetts) Robert Mundell Procyclical and countercyclical Monetarism Milton Friedman Paul Samuelson Integrated Authority File
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