Don Patinkin
Don Patinkin | |
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Born |
Don Patinkin (
Biography
Don Patinkin was born January 8, 1922, in Chicago, to a family of Jewish emigrants from Poland.[; in his graduate research he studied Palestinian economics, although he did not complete his thesis in this subject.
After graduating he held lecturer positions at the University of Chicago and the
Academic career
He remained at the Hebrew University. becoming university president from 1982 to 1986, following Avraham Harman. He resigned due to the poor state of the university's finances and was succeeded by Amnon Pazy.[6] He retired in 1989, and died August 7, 1995, in Jerusalem.[2][3][7][8]
Economic research
Patinkin's work explored some of the microfoundations of Keynesian macroeconomics, particularly the role of money demand. His monograph Money, Interest, and Prices (1956) was for many years one of the most widely used advanced references on monetary economics.[8]
Huw Dixon believes that: "Money, Interest and Prices is perhaps as great in its vision as Keynes' General Theory. Whilst the latter has a greater abundance of originality, the former has a greater clarity of insight and formal expression. Don Patinkin states his theory of the labour market and corresponding notion of the full employment equilibrium in just three pages of Money, Interest and Prices (in the 1965 edn. pp. 127–30). These pages deserve great attention: they state the labour market model that became the standard foundation for the aggregate supply curve in the aggregate demand/aggregate supply (AD/AS) model. Although Patinkin himself did not formulate the AD/AS representation, it is implicit in his Money, Interest and Prices."[9]
Published works
- "Mercantilism and the Readmission of Jews in England", 1946, Jewish Social Studies
- "Multiple-Plant Firms, Cartels and Imperfect Competition", 1947, QJE.
- "Relative Prices, Say's Law, and the Demand for Money", 1948, Econometrica.
- "Price Flexibility and Full Employment", 1948, AER.
- "The Indeterminacy of Absolute Prices in Classical Economic Theory", 1949, Econometrica.
- "Involuntary Unemployment and the Keynesian Supply Function", 1949, EJ.
- "A Reconsideration of the General Equilibrium Theory of Money", 1950, RES.
- "The Invalidity of Classical Monetary Theory", 1951, Econometrica.
- "Further Considerations of the General Equilibrium Theory of Money", 1951, RES.
- "The Limitations of Samuelson's `Correspondence Principle'", 1952, Metroeconomica.
- "Wicksell's `Cumulative Process'", 1952, EJ.
- "Dichotomies of the Pricing Process in Economic Theory", 1954, Economica.
- "Keynesian Economics and the Quantity Theory", 1954, in Kurihara, editor, Post-Keynesian Economics.
- "Monetary and Price Developments in Israel", 1955, Scripta Hierosolymitana.
- Money, Interest and Prices: An Integration of Monetary and Value Theory, 1956.
- "Liquidity Preference and Loanable Funds: Stock and Flow Analysis", 1958, Economica.
- "Secular Price Movements and Economic Development: Some Theoretical Aspects", in Bonne, editor, The Challenge of Development.
- The Israel Economy: The First Decade, 1959.
- "Keynes and Econometrics: On the Interaction of the Macroeconomic Revolutions of the Interwar Period", 1976, Econometrica.
Awards and recognition
Patinkin was awarded the Israel Prize in 1970.[4] In 1989, a conference was held in honor of Patinkin's retirement.[3]
See also
References
- ^ Nissan Liviatan, 2008. "Patinkin, Don (1922–1995)," The New Palgrave Dictionary of Economics, 2nd Edition. Abstract.
- ^ a b Passell, Peter (August 8, 1995), "Don Patinkin, Israeli Economist and University President, 73", The New York Times
- ^ a b c Dalyell, Tam (August 10, 1995), "Obituary: Don Patinkin", The Independent
- ^ a b "Israel Prize winner Don Patinkin passes away at 73", Jerusalem Post, August 8, 1995
- ^ Krampf, A. 2010. 'Economic Planning of the Free Market in Israel during the First Decade: The Influence of Don Patinkin on Israeli Policy Discourse', Science in Context 23(4): 507–534.
- ^ "Office of the President | האוניברסיטה העברית בירושלים | The Hebrew University of Jerusalem". New.huji.ac.il. 2017-09-01. Retrieved 2020-02-18.
- ^ Fonseca, Gonçalo L. (2009), "Don Patinkin, 1922–1995", History of Economic Thought and Critical Perspectives in Economics, The New School, archived from the original on 2011-10-31, retrieved 2011-10-04
- ^ S2CID 154959883, archived from the original(PDF) on 2016-03-04, retrieved 2011-10-04
- ^ Dixon H, Surfing Economics, Chapter 3
Further reading
- R. Dimand (2008), Monetary economics, history of, article in The New Palgrave Dictionary of Economics
- N. Liviatan (2006), Don Patinkin's contribution to monetary theory Archived 2011-11-28 at the Wayback Machine, Israel Economic Review
- D. Rozborilova (2003), Profiles of World Economists: Don Israel Patinkin
External links
- Don Patinkin Papers, 1870-1995, Rubenstein Library, Duke University. Also includes life chronology.
- References to Patinkin's 'classic' work (on dust jacket of Woodford textbook)