Lauchlin Currie (1902-1993)

Sandilands, R.J.; Durlauf, Steven N. and Blume, Lawrence E., eds. (2008) Lauchlin Currie (1902-1993). In: Palgrave Dictionary of Economics. Palgrave Macmillan Ltd.. ISBN 0333786769

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Biography of the economist Lauchlin Currie. At Harvard in the early 1930s Currie pioneered a monetary diagnosis of the 1929-32 collapse and placed blame on the Federal Reserve Board. As a prominent New Dealer at the Fed during 1934-9 he urged contra-cyclical monetary and fiscal activism. During 1939-45 he worked in Washington as President Roosevelt's economic adviser. After heading a World Bank mission to Colombia in 1949 he spent 40 years advising on national development there. He emphasized urban housing as a leading sector, based on an innovative housing finance system, and extended Allyn Young's ideas on macroeconomic increasing returns and endogenous growth.