Albert Otto Hirschman

Economist, Author

1915 – 2012

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Who was Albert Otto Hirschman?

Albert Otto Hirschman was an influential economist and the author of several books on political economy and political ideology. His first major contribution was in the area of development economics. Here he emphasized the need for unbalanced growth. Because developing countries are short of decision making skills, he argued that disequilibria should be encouraged to stimulate growth and help mobilize resources. Key to this was encouraging industries with a large number of linkages to other firms.

His later work was in political economy and there he advanced two simple but intellectually powerful schemata. The first describes the three basic possible responses to decline in firms or polities: Exit, Voice, and Loyalty. The second describes the basic arguments made by conservatives: perversity, futility and jeopardy, in The Rhetoric of Reaction.

In World War II, he played a key role in rescuing refugees in occupied France.

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Born
Apr 7, 1915
Berlin
Also known as
  • Albert Hirschman
  • Albert O. Hirschman
Nationality
  • United States of America
Profession
Education
  • London School of Economics and Political Science
  • University of Trieste
  • University of Paris
Employment
  • Professor Emeritus, Institute for Advanced Study
    (1985 - )
  • Institute for Advanced Study
    (1974 - 1985)
  • Harvard University
    (1964 - 1974)
  • Columbia University
    (1958 - 1964)
  • Visiting scholar, Yale University
    (1956 - 1958)
Died
Dec 11, 2012
Ewing Township

Submitted
on July 23, 2013

Citation

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