CalendarZ

  1. Home
  2. On This Day
  3. February
  4. 6
  5. Allan H. Meltzer

Births on February 6

Allan H. Meltzer
1928Feb, 6

Allan H. Meltzer

Allan H. Meltzer, American economist and academic (d. 2017)
Allan H. Meltzer (; February 6, 1928 – May 8, 2017) was 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. Meltzer specialized on studying monetary policy and the US Federal Reserve System, and 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 originated the aphorism "Capitalism without failure is like religion without sin. It doesn't work." That is, guarding companies from failure "removes the dynamic process that makes stockholders responsible for losses and disciplines managers who make mistakes."

References

Choose Another Date

Events on 1928

  • 12Mar

    St. Francis Dam

    In California, the St. Francis Dam fails; the resulting floods kills 431 people.
  • 12Apr

    Junkers W 33

    The Bremen, a German Junkers W 33 type aircraft, takes off for the first successful transatlantic aeroplane flight from east to west.
  • 4Jun

    Zhang Zuolin

    The President of the Republic of China, Zhang Zuolin, is assassinated by Japanese agents.
  • 18Jun

    Amelia Earhart

    Aviator Amelia Earhart becomes the first woman to fly in an aircraft across the Atlantic Ocean (she is a passenger; Wilmer Stultz is the pilot and Lou Gordon the mechanic).
  • 2Oct

    Josemaría Escrivá

    The "Prelature of the Holy Cross and the Work of God", commonly known as Opus Dei, is founded by Josemaría Escrivá.