Currie, Lauchlin (1902–1993)
At Harvard in the early 1930s Currie pioneered a monetary diagnosis of the 1929–32 collapse and placed blame on the Federal Reserve Board. As a prominent New Dealer at the Fed during 1934–9 he urged contra-cyclical monetary and fiscal activism. During 1939–45 he worked in Washington as President Roosevelt’s economic adviser. After heading a World Bank mission to Colombia in 1949 he spent 40 years advising on national development there. He emphasized urban housing as a leading sector, based on an innovative housing finance system, and extended Allyn Young’s ideas on macroeconomic increasing returns and endogenous growth.
KeywordsBretton Woods conference Commercial loan theory of banking Credit Currie, L. Endogenous growth Federal Reserve System Great Depression Hansen, A. Income velocity of money Increasing returns Land tax Monetary and financial forces in the Great Depression Plan of the Four Strategies (Colombia) Quantity of money Reserve requirement Rostow, W. Urban planning Viner, J. White, H. Young, A.
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