 Thomas Balogh (1905–1985)Andrew Graham ()
Chapter 15 in The Palgrave Companion to Oxford Economics, 2021, pp 347-369 from Springer Abstract: Abstract Thomas Balogh was one of the UK’s most controversial political economists. By the age of 26, he had worked for the central banks of Germany, France and the USA, but was a fierce critic of the Bank of England. Born in Budapest, he was ‘taken up’ by Keynes in 1930, yet had a furious row with him in 1945 over Bretton Woods. He advised numerous governments and established the first ‘policy unit’ in Downing Street. Balogh argued throughout his life that most of the work of academic economists was at best pseudo-science and at worst dangerous. In ways that foreshadow the views of many of today’s heterodox economists, he advocated a more institutional and historical approach to economics. This chapter assesses the importance of Balogh’s work, discusses his multiple contributions to economic policy, and presents a lively picture of this talented and controversial economist. Keywords: Balliol College; Bretton Woods; Convertibility crisis 1947; Gold crisis 1968; Harold Wilson; Heterodox economists; Incomes policy; Keynes; North Sea oil; Policy Unit; Downing Street; Political economy; Pseudoscience (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-58471-9_15 Ordering information: This item can be ordered from DOI: 10.1007/978-3-030-58471-9_15 Access Statistics for this chapter More chapters in Springer Books from Springer |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.