Allan H. Meltzer
| Allan H. Meltzer | |
|---|---|
| Born |
February 6, 1928 Boston, Massachusetts |
| Nationality | American |
| Field | Economist |
| School or tradition |
Monetarism |
| Influences |
Karl Brunner Milton Friedman |
| Information at IDEAS / RePEc | |
Allan H. Meltzer (born February 6, 1928) is an American economist and Allan H. Meltzer Professor of Political Economy at Carnegie Mellon University's Tepper School of Business and Institute for Politics and Strategy in Pittsburgh, Pennsylvania. He was born in 1928 Boston, Massachusetts to a Jewish family. Meltzer specializes on studying monetary policy and the US Federal Reserve System, and has authored several academic papers and books on the development and applications of monetary policy, and about the history of central banking in the US. Together with Karl Brunner, he created the Shadow Open Market Committee: a monetarist council that deeply criticized the Federal Open Market Committee.
Meltzer served as president of the Mont Pelerin Society for the 2012–2014 term.
Meltzer's study A History of the Federal Reserve is considered the most comprehensive history of the central bank. Volume I covers the years from the creation of the Fed in 1913 until the accord with the Treasury in 1951. Volume II Book 1 covers the years from the accord in 1951 until 1969, and Volume II Book 2 discusses the period from 1970 until the end of the Great Inflation in the mid-1980s.
Meltzer has confirmed that he originated the aphorism "Capitalism without failure is like religion without sin. It doesn't work."
Meltzer received his A.B. and M.A. degrees from Duke University in 1948 and 1955, respectively. He earned his Ph.D. degree from UCLA in 1958 under supervision of Karl Brunner.
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