Money, trade, and competition essays in memory of egon sohmen (publications of the egon sohmen foundation)
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Money, trade, and competition essays in memory of egon sohmen (publications of the egon sohmen foundation)
A Publication of the Egon-Sohmen-FoundationHerbert Giersch (Ed.)for the Egon-Sohmen-FoundationMoney, Trade, and CompetitionEssays in Memoryof Egon Soh Money, trade, and competition essays in memory of egon sohmen (publications of the egon sohmen foundation)hmenWith 19 FiguresSpringer-VerlagBerlin Heidelberg New York London Paris Tokyo Hong Kong Barcelona BudapestProf. Dr. Herbert GierschPast PresidentKiel Institute of World EconomicsP.O.Box 4309W-2300 Kiel 1, FRGThis book was produced with financial support of theFgon-Sohmen-FoundationISBN-13:978-3-64 Money, trade, and competition essays in memory of egon sohmen (publications of the egon sohmen foundation)2-77269-6e-ISBN-13:978-3-642-77267-2DOI: 10.1007/978-3-642-77267-2This work is subject to copyright. All rights are reserved, whether the whole or parMoney, trade, and competition essays in memory of egon sohmen (publications of the egon sohmen foundation)
t of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on A Publication of the Egon-Sohmen-FoundationHerbert Giersch (Ed.)for the Egon-Sohmen-FoundationMoney, Trade, and CompetitionEssays in Memoryof Egon Soh Money, trade, and competition essays in memory of egon sohmen (publications of the egon sohmen foundation) German Copyright Law of September 9,1965, in its version of June 24,1985, and a copyright fee must always be paid. Violations fall under the prosecution act of the German Copyright Law.€> Springer-Vcrlag Berlin • Heidelberg 1992Softcover reprint of the hardcover 1st edition 1992The use of registere Money, trade, and competition essays in memory of egon sohmen (publications of the egon sohmen foundation)d names, trademarks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevanMoney, trade, and competition essays in memory of egon sohmen (publications of the egon sohmen foundation)
t protective laws and regulations and therefore free for general use.2142/7130-543210-Printed on acid-free paperPrefaceOn June 1, 1990, Egon Sohmen woA Publication of the Egon-Sohmen-FoundationHerbert Giersch (Ed.)for the Egon-Sohmen-FoundationMoney, Trade, and CompetitionEssays in Memoryof Egon Soh Money, trade, and competition essays in memory of egon sohmen (publications of the egon sohmen foundation)uld play a prominent role in the current debate on monetary arrangements and on allocation theory, perhaps including environmental issues and urban economics. His contributions are well remembered by his colleagues and friends, by his former students, and by many in the economics profession on both Money, trade, and competition essays in memory of egon sohmen (publications of the egon sohmen foundation)sides of the Atlantic. In extrapolating his great achievements as a scholar and teacher beyond the time of his death, one is inclined to suppose thatMoney, trade, and competition essays in memory of egon sohmen (publications of the egon sohmen foundation)
Egon Sohmen’s name would figure high on many a list of candidates for honors and awards in the field of international economics.For the reconstructionA Publication of the Egon-Sohmen-FoundationHerbert Giersch (Ed.)for the Egon-Sohmen-FoundationMoney, Trade, and CompetitionEssays in Memoryof Egon Soh Money, trade, and competition essays in memory of egon sohmen (publications of the egon sohmen foundation)fir Welthandel, now Wirtschaftsuniversitat), then went to the ƯS as a Fulbright scholar (1953), returned to Europe to take his doctorate in Tubingen, Germany, (1954) and crossed the Atlantic again to teach at MIT (1955-58) where he obtained a Ph.D. (1958) under Charlie Kindleberger. He might have st Money, trade, and competition essays in memory of egon sohmen (publications of the egon sohmen foundation)ayed permanently in the US, continuing a career that he started as Assistant Professor at Yale University (1958-61), if the US visa provisions had beeMoney, trade, and competition essays in memory of egon sohmen (publications of the egon sohmen foundation)
n applied in a more liberal fashion.Fortunately for quite a few people in Germany, Egon was offered a chair at the young Saar University in 1961, afteA Publication of the Egon-Sohmen-FoundationHerbert Giersch (Ed.)for the Egon-Sohmen-FoundationMoney, Trade, and CompetitionEssays in Memoryof Egon Soh Money, trade, and competition essays in memory of egon sohmen (publications of the egon sohmen foundation)engthen our ties with MIT and Yale, with Austrian economists like Gottfried Haberler and Fritz Machlup, who had become Egon's friends and mentors, with Willy Fellner, and with the international economists of Egon’s age cohort. Many students at the Saar University were deeply impressed by his teachin Money, trade, and competition essays in memory of egon sohmen (publications of the egon sohmen foundation)gs, including his later wife, our best female student, and quite a few who now hold prestigious posts in economics and public life. I can frankly sayMoney, trade, and competition essays in memory of egon sohmen (publications of the egon sohmen foundation)
without hesitation that Egon’s influence was particularly strong amongviPrefacethose bright collaborators who went along with me in 1964 to establish A Publication of the Egon-Sohmen-FoundationHerbert Giersch (Ed.)for the Egon-Sohmen-FoundationMoney, Trade, and CompetitionEssays in Memoryof Egon Soh Money, trade, and competition essays in memory of egon sohmen (publications of the egon sohmen foundation)No economist teaching in Germany would have deserved the Kiel Institute’s Bernhard Harms Prize more than Egon. This acknowledgement must serve as a posthumous substitute.Egon was not afraid of controversy; perhaps he even liked it. Great controversies developed in Saarbriicken over the exchange rate Money, trade, and competition essays in memory of egon sohmen (publications of the egon sohmen foundation) issue, with Wolfgang Stiitzel defending fixed rates, Egon propagating flexibility, and some - like myself - pondering for a while until circumstancesMoney, trade, and competition essays in memory of egon sohmen (publications of the egon sohmen foundation)
demanded a system switch in the interest of domestic price level stability. In May 1969, when action was needed, Egon and I drafted a memorandum thatA Publication of the Egon-Sohmen-FoundationHerbert Giersch (Ed.)for the Egon-Sohmen-FoundationMoney, Trade, and CompetitionEssays in Memoryof Egon Soh Money, trade, and competition essays in memory of egon sohmen (publications of the egon sohmen foundation)joined forces with US. A few months later, exchange rates became the main issue in the general elections.In stormy periods, one needs friends with a strong character. Egon was a true friend. He had an instinctive sense of the needs of others, notably his family. Without his good advice and the gener Money, trade, and competition essays in memory of egon sohmen (publications of the egon sohmen foundation)ous financial support he diverted from his salary as a young professor in his early thirties, much of the scope for productive human capital formationMoney, trade, and competition essays in memory of egon sohmen (publications of the egon sohmen foundation)
in the Sohmen family would have remained unexploited, as I gather from remarks by his sister. From his brother, Helmut, Egon quickly received high inA Publication of the Egon-Sohmen-FoundationHerbert Giersch (Ed.)for the Egon-Sohmen-FoundationMoney, Trade, and CompetitionEssays in Memoryof Egon Soh Money, trade, and competition essays in memory of egon sohmen (publications of the egon sohmen foundation)ving acted as Dr. Wong, meaning Jacob Viner’s Chinese draftsman who turned out to be an excellent amateur economist by discovering a mistake in Viner’s reasoning about “Cost Curves and Supply Curves.”It so happened that Helmut Sohmen, as if Egon’s reference had had predictive power, made his way to Money, trade, and competition essays in memory of egon sohmen (publications of the egon sohmen foundation)the top of the world business community in the Chinese cultural and ethnic environment of Hong Kong with such success that he acquired the means for cMoney, trade, and competition essays in memory of egon sohmen (publications of the egon sohmen foundation)
reating the Egon-Sohmen-Foundation. Should sociologists have doubts about the viability of the family in a cosmopolitan environment, they would becomeA Publication of the Egon-Sohmen-FoundationHerbert Giersch (Ed.)for the Egon-Sohmen-FoundationMoney, Trade, and CompetitionEssays in Memoryof Egon Soh Money, trade, and competition essays in memory of egon sohmen (publications of the egon sohmen foundation)r this memorial conference cover the main areas of Egon’s interest and research during the largest part of his academic life, i.e, exchange rates and adjustment problems; welfare economics and allocation theory; trade and factor movements; competition and economic growth. The perspective is internat Money, trade, and competition essays in memory of egon sohmen (publications of the egon sohmen foundation)ional, except for the paper on German monetary unification, a subject which Egon would have found fascinating.A Publication of the Egon-Sohmen-FoundationHerbert Giersch (Ed.)for the Egon-Sohmen-FoundationMoney, Trade, and CompetitionEssays in Memoryof Egon SohA Publication of the Egon-Sohmen-FoundationHerbert Giersch (Ed.)for the Egon-Sohmen-FoundationMoney, Trade, and CompetitionEssays in Memoryof Egon SohGọi ngay
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