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Paul Volcker

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Also known as Paul A. Volcker, Paul Adolph Volcker, Paul Adolph Volcker, Jr., Paul Adolph Volcker Jr.

American economist (1927-2019)

Person · Open Library

Works
2

Top works

  • Great Minds of Business
  • Good intentions corrupted

via Open Library + Wikidata

Music · MusicBrainz

Type
Person
Country
GB
Active from
1942-06-18

via MusicBrainz · CC0

Listeners · Last.fm

Listeners
1
Total plays
1

<a href="https://www.last.fm/music/Paul+Volcker">Read more on Last.fm</a>

via Last.fm · Paul Volcker

Academic profile · OpenAlex

14h-index
Works
182
Cited by
689

Research areas

Statement (logic)EconomicsPolitical scienceLawBusiness

Most cited works

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Quotes

  • This is a time of testing — a testing not only of our capacity collectively to reach coherent and intelligent policies, but to stick with them.
  • Productivity growth in this country has actually been negative in a recent period. And, we have had higher oil prices; of course…. Under those conditions, the standard of living of the average American has declined.
  • In the 1950s and 1960s, a substantial number of economists taking on a role of social philosopher defended a "little" inflation as a kind of social solvent, helping to reconcile competing political and economic pressures.… It was a game of mirrors, but it seemed acceptable for a while, more acceptable than imposing the degree of fiscal, monetary and other restraints necessary to deal with inflation.
  • It is a sobering fact that the prominence of central banks in this century has coincided with a general tendency towards more inflation, not less. [I]f the overriding objective is price stability, we did better with the nineteenth-century gold standard and passive central banks, with currency boards, or even with "free banking."
  • Fred Hirsch's last dicta: "A controlled disintegration in the world economy is a legitimate objective for the 1980's"… The phrase captures what seems to me the prevailing attitudes and practices of most gov­ernments in this decade.
  • We live in a world in which individuals and busi­nessmen… they want to do so unencumbered by national boundaries. At the same time, modern democracies, at least as much as other forms of government, long for autonomy; they want to control their own destinies in ways responsive to the needs of an electorate often concerned less with na­tional than with local or sectorial interests. Yet, theory and experience indicate we can’t have it both ways, full integration and full autonomy.

via Wikiquote · CC BY-SA

Key facts

President
Barack Obama
Preceded by
Position established
Succeeded by
Jeffrey R. Immelt (Council on Jobs and Competitiveness)
Deputy
Frederick H. Schultz , Preston Martin , Manuel H. Johnson
Born
Paul Adolph Volcker Jr. , ( 1927-09-05 ) September 5, 1927, Cape May, New Jersey , U.S.
Died
December 8, 2019 (2019-12-08) (aged 92), New York City , New York , U.S.
Party
Democratic
Spouses
Barbara Bahnson ​ ​ ( married</span>"}]]}'>m. September 11, 1954</span>"}]]}'>1954 ; died June 14, 1998</span>"}]]}'>1998 ) ​ Anke Dening ​ ( married</span>"}]]}'>m. February 11, 2010</span>"}]]}'>2010 ) ​
Education
Princeton University ( BA ), Harvard University ( MA ), London School of Economics (attended)

via Wikipedia infobox

~22 min read

Encyclopedic overview

Paul Adolph Volcker Jr. (September 5, 1927 – December 8, 2019) was an American economist who served as the 12th chairman of the Federal Reserve from 1979 to 1987. During his tenure as chairman, Volcker was widely credited with having ended the high levels of inflation seen in the United States throughout the 1970s and early 1980s, with measures known as the Volcker shock. He previously served as the president of the Federal Reserve Bank of New York from 1975 to 1979.

President Jimmy Carter nominated him to succeed G. William Miller as Fed chairman and President Ronald Reagan renominated him once. Volcker did not seek a third term at the Fed and was succeeded by Alan Greenspan. After his retirement from the Board, he chaired the Economic Recovery Advisory Board under President Barack Obama from 2009 to 2011 during the subprime mortgage crisis.

Excerpted from Wikipedia’s “Paul Volcker” article, available under the CC BY-SA 4.0 licence.