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Connell on Machlup

June 26, 2013 in Economics

By Peter G. Klein

Carol Connell, author of several insightful articles on Fritz Machlup (including “Fritz Machlup’s Methodology and The Theory of the Growth of the Firm” in the 2007 QJAE), has a new book, Reforming the World Monetary System: Fritz Machlup and the Bellagio GroupThe book deals with Machlup’s attempts in the 1960s to organize a group of elite economists to make recommendations on international monetary policy. No one in Machlup’s group, including Machlup himself, recommended a return to the international gold standard, which led to a temporary falling-out between Machlup and Mises.

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