James Laurence Laughlin
| J. Laurence Laughlin | |
|---|---|
 |
|
| Born |
April 2, 1850 , U.S. |
| Died | November 28, 1933 (aged 83) |
| Nationality | United States of America |
| Institutions |
Harvard University Cornell University University of Chicago |
| Alma mater | Harvard University |
| Contributions | American economist |
James Laurence Laughlin (April 2, 1850 – November 28, 1933) was an American economist and Professor at Harvard University, Cornell University and the University of Chicago, who helped to found the Federal Reserve System and was "one of the most ardent defenders of the gold standard."
Born in , Laughlin received his PhD from Harvard University. His thesis regarded "Anglo-Saxon Legal Procedure" and supervised by Henry Adams. A conservative, he generally subscribed to the economic theories of John Stuart Mill and opposed bimetallism.
Laughlin taught at Harvard University in Boston for five years, at Cornell University for two years, and then became the department-head of the new economics department at the University of Chicago from 1892 to 1916. Notably, he appointed many economists with whom he avidly disagreed, such as Thorstein Veblen, to high positions at the university. Laughlin was a member of the Indianapolis Monetary Commission, organized in 1897, and prepared its report, one of the important documents in the history of American banking and monetary reform.New International Encyclopedia
In 1906 Laughlin lectured, by invitation, in Berlin, and in 1909 he served as delegate to the Pan-American Scientific Congress at Santiago, Chile. From 1911 to 1913 he was chairman of the Executive Committee of the National Citizens League for the Promotion of a Sound Banking System. Under his leadership the league promoted banking reform in the United States.
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