The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Hart, Albert Gailord (1909–1997)

  • Peter Earl
Reference work entry


Born in Oak Park, Illinois, Hart received his BA from Harvard in 1930 and his Ph.D. from the University of Chicago in 1936. Most of his career – from 1946 until his retirement in 1979 – was spent as Professor of Economics at Columbia University. Much of his noteworthy work concerned the implications of uncertainty for policymakers, but he should also be remembered as having worked with Kaldor and Tinbergen (1964) to produce an ingenious proposal for a commodity reserve currency: this would serve to improve international liquidity simultaneously with providing a means of protecting incomes of primary producers against shrinkage in times of depression.


Decision theory Expectations Hart, A. G. Uncertainty 

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  1. Stigler, G.J. 1939. Production and distribution in the short run. Journal of Political Economy 47: 305–327.CrossRefGoogle Scholar

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© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Peter Earl
    • 1
  1. 1.