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{{short description|Estonian-American economist}}
<!-- Deleted image removed: ] -->'''Ragnar Nurkse''' ({{OldStyleDate|5 October|1907|22 September}}, Käru, now ], ] - 6 May 1959, near ], ]) was an ]n-descended international economist and policy maker mainly in the fields of international finance and economic development.
{{Infobox economist
| name = Ragnar Nurkse
| image =
| caption = Ragnar Nurkse, the pioneer of Balanced Growth Theory
| school_tradition = <!--school of economic thought (only if supported by reliable sources)-->
| color =
| birth_date = {{Birth date|1907|10|5}}
| birth_place = ], ], ] (now ])
| death_date = {{Death date and age|1959|5|6|1907|10|5}}
| death_place = Le Mont-Pèlerin<!--near ]-->, ]
| nationality = ]
| alma_mater = ''Domschule zu Reval'', ] <br /> ] <br /> ] <br /> ]
| institution = ] <br /> ] <br /> ] <br /> ]
| contributions = Balanced Growth Theory
}}

'''Ragnar Wilhelm Nurkse''' (5 October 1907,{{efn|{{OldStyleDate|5 October|1907|22 September}}}} ], ] – 6 May 1959, ], ]) was an Estonian-American<ref>{{cite book |title=Ragnar Nurkse (1907–2007) |last=Kattel |first=Rainer |author2=Jan Kregel |author3=Erik Reinert |year=2009 |publisher=Anthem Press |isbn= 978-1-84331-786-9 |page=37 }} Nurkse's Estonian passport was last extended by the ] on April 22nd, 1946</ref> economist and policy maker mainly in the fields of international finance and economic development. He is considered the pioneer of ].<ref>{{Cite journal|last=Eichengreen|first=Barry|date=2018|title=Ragnar Nurkse and the international financial architecture|url=https://doi.org/10.1080/1406099X.2018.1540186|journal=Baltic Journal of Economics|volume=18|issue=2|pages=118–128|doi=10.1080/1406099X.2018.1540186|issn=1406-099X|doi-access=free|hdl=10419/267560|hdl-access=free}}</ref>


==Life== ==Life==
⚫ Ragnar Nurkse was born in ] village, in the then ] of the former ] (now in ], ]), son of an ] father who worked himself up from lumberjack to estate manager, and an ] mother. His parents emigrated to ] in 1928.


⚫ After finishing primary school, Nurkse attended the '']'' in ], the most prestigious, German-language secondary school in the city, from where he graduated with higher honors in 1926. He continued his education at the law and economics' departments of the ] in 1926–1928, and then in economics at the ]. He graduated with a first class degree in economics, under professor ], in 1932. He earned a ] Fellowship to study at the ] from 1932 to 1934.
⚫ Ragnar Nurkse was born in Käru village, now Raplamaa county of the then ] of the ], son of an ] father who worked himself up from lumberjack to estate manager and an ] mother. His parents emigrated from Estonia to ] in 1928.


Nurkse served in the ] of the ] from 1934 to 1945, working in the Financial Section and Economic Intelligence Service. He was the financial analyst and was largely responsible for the annual Monetary Review. He was also involved with the publication of The Review of World Trade, World Economic Surveys, and the report of the Delegation on Economic Depressions entitled "The Transition from War to Peace Economy". Nurke authored the 1935 monograph ''Internationale Kapitalbewegungen'' on international capital movements.<ref>{{Cite journal |last=Robbins |first=Lionel |date=1936 |title=Review of Internationale Kapitalbewegungen |url=https://www.jstor.org/stable/2549185 |journal=Economica |volume=3 |issue=9 |pages=108–109 |doi=10.2307/2549185 |issn=0013-0427}}</ref> He was influential for his criticism of floating exchange rates, which he argued were at fault for the economic crises of the interwar period.<ref name=":0">{{Cite book|last=Eichengreen|first=Barry|url=https://www.jstor.org/stable/j.ctvd58rxg|title=Globalizing Capital: A History of the International Monetary System|date=2019|publisher=Princeton University Press|isbn=978-0-691-19390-8|edition=3rd|pages=46–48}}</ref> According to Nurkse, floating exchange rates were subject to "cumulative and self-aggravating movements".<ref name=":0" />
⚫ Nurkse attended, after Russian-speaking primary school, the elite ''Domschule zu Reval'', the most prestigious, German-language secondary school in ], from where he graduated with highers honors in 1928. He continued his education at the Law School and the economics department of the ] from 1926 to 1928, and then in economics at the ]. He graduated from Edinburgh with a first class degree in economics, under professor Sir ], in 1932. He earned a ] to study at the ] from 1932 to 1934.


⚫ In 1945, Nurkse accepted an appointment at ] in New York City. He was a visiting lecturer at the university from 1945 to 1946, was a member of the Institute for Advanced Study in ], from 1946 to 1947, and then returned to Columbia as an associate professor of economics in 1947. In 1949, he was promoted to Full Professor of Economics, a position which he held almost until his death in 1959. Nurkse spent a sabbatical (1954–1955) at the ] of the ], and in 1958–1959, another one studying economic development in the ], and lecturing around the world.
Nurkse served in the Financial Section and Economic Intelligence Service of the League of Nations from 1934 to 1945. He was the financial analyst and was largely responsible for the annual Monetary Review. He was also involved with the publication of The Review of World Trade, World Economic Surveys, and the report of the Delegation on Economic Depressions entitled "The Transition from War to Peace Economy".


⚫ In 1958, Ragnar Nurkse accepted a Professorship of Economics and the Director of International Finance Section position at ]. However, before he could fully resume it, when Nurkse returned to ] in the spring of 1959, he died suddenly of a heart attack at the age of 51.<ref>{{cite news |title=Deaths: Ragnar Nurkse |url=https://www.newspapers.com/clip/117994859/ragnar-nurkse-1907-1969/ |work=The News-Herald |date=May 7, 1959 |location=Franklin, PA |page=6 |access-date=February 5, 2023 |via=]}} {{Open access}}</ref>
⚫ In 1945, Nurkse accepted an appointment at ] in ]. He was a visiting lecturer at Columbia from 1945 to 1946, was a member of the Institute for Advanced Study in ], from 1946 to 1947, and then returned to Columbia as an Associate Professor of Economics in 1947. In 1949, he was promoted to Full Professor of Economics, a position which he held almost until his death in 1959. Nurkse spent a sabbatical (1954-1955) at the ] of the ], and in 1958-1959, another one studying economic development in the ], and lecturing around the world.


⚫ For his 100th anniversary on 5 October 2007, the Estonian Postal Service commemorated Nurkse with an international letter stamp. A stone monument with a plaque was also unveiled across the house he was born in Käru. He was also honored earlier in 2007 by the inauguration of a Lecture Series by the ] and an international conference by ]'s Technology Governance program. An economics professorship at Columbia is named in his honor<!-- (it is? has been? held by e.g ]-->. In 2013, Tallinn University of Technology named one of its departments in honor of him: The Ragnar Nurkse Department of Innovation and Governance.<ref>{{Cite web|title=About {{!}} TalTech|url=https://taltech.ee/en/nurkse/about|access-date=2021-07-31|website=taltech.ee|language=en}}</ref>
⚫ In 1958, Ragnar Nurkse accepted a Professorship of Economics and the Director of International Finance Section position at ]. However, before he could fully resume it, when Nurkse returned to ] in the spring of 1959, he died suddenly at the age of 52.

⚫ For his 100th anniversary on 5 October 2007, the Estonian Postal Service commemorated Nurkse with an international letter stamp. A large stone monument with a plaque will also be unveiled across the house he was born in Käru. He was also honored earlier in 2007 by the inauguration of a Lecture Series by the ] and an international conference by ]'s ] program. An economics ] at Columbia is named in his honor.


==Work== ==Work==
{{Main|Ragnar Nurkse's Balanced Growth Theory}}


Nurkse is one of the founding fathers of Classical Development Economics. Together with ] and ], he promoted a ']', emphasized the role of savings and capital formation in economic development, and argued that poor nations remained poor because of a ''] of ]''. Among his major works are ''International Currency Experience: Lessons of the Interwar Period'' (1944), the foundation of the ], ''Conditions of International Monetary Equilibrium'' (1945), and ''Problems of Capital Formation in Underdeveloped Countries'' (1953). Nurkse is one of the founding fathers of Classical Development Economics. Together with ] and ], he promoted a ']', emphasized the role of savings and capital formation in economic development, and argued that poor nations remained poor because of a '] of ]'. Among his major works are ''International Currency Experience: Lessons of the Interwar Period'' (1944), the foundation of the ], ''Conditions of International Monetary Equilibrium'' (1945), and ''Problems of Capital Formation in Underdeveloped Countries'' (1953).


==Private life== ==Private life==

Ragnar Nurkse married Harriet Berger of ], in 1946, and they had two sons. One of them is the poet ]. Ragnar Nurkse married Harriet Berger of ], in 1946, and they had two sons. One of them is the poet ].

==See also==

* ]

==Notes==
{{notelist}}

==References==
{{reflist}}


==Bibliography== ==Bibliography==
* Nurkse, Ragnar. ''Trade and Development.'' Rainer Kattel, Jan A. Kregel and Erik S. Reinert, eds. London – New York: Anthem, 2009. (ISBN 1843317877) Collection of all key works by Nurkse. * Nurkse, Ragnar. ''Trade and Development.'' Rainer Kattel, Jan A. Kregel and Erik S. Reinert, eds. London&nbsp;– New York: Anthem, 2009. ({{ISBN|1843317877}}) Collection of all key works by Nurkse.
* Nurkse, Ragnar (1944). International Currency Experience: Lessons of the Interwar Period. Geneva: League of Nations.
* Kattel, Rainer, Jan A. Kregel and Erik S. Reinert, eds. ''Ragnar Nurkse (1907-2007): Classical Development Economics and its Relevance for Today.'' London – New York: Anthem, 2009. (ISBN 1843317869) * Kattel, Rainer, Jan A. Kregel and ], eds. ''Ragnar Nurkse (1907–2007): Classical Development Economics and its Relevance for Today.'' London&nbsp;– New York: Anthem, 2009. ({{ISBN|1843317869}})
* Kukk, Kalev (2004). . ''Kroon & Economy'' No. 1, 2004. * Kukk, Kalev (2004). . ''Kroon & Economy'' No. 1, 2004.


==External links==
* (PDF; 94&nbsp;kB)
*


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Latest revision as of 02:02, 24 September 2024

Estonian-American economist
Ragnar Nurkse
Born(1907-10-05)October 5, 1907
Käru, Governorate of Livonia, Russian Empire (now Estonia)
DiedMay 6, 1959(1959-05-06) (aged 51)
Le Mont-Pèlerin, Switzerland
NationalityEstonian
Academic career
InstitutionColumbia University
Princeton University
University of Oxford
University of Geneva
Alma materDomschule zu Reval, Tallinn
University of Tartu
University of Edinburgh
University of Vienna
ContributionsBalanced Growth Theory

Ragnar Wilhelm Nurkse (5 October 1907, Käru, Estonia – 6 May 1959, Le Mont-Pèlerin, Switzerland) was an Estonian-American economist and policy maker mainly in the fields of international finance and economic development. He is considered the pioneer of Balanced Growth Theory.

Life

Ragnar Nurkse was born in Käru village, in the then Governorate of Livonia of the former Russian Empire (now in Järva County, Estonia), son of an Estonian father who worked himself up from lumberjack to estate manager, and an Estonian-Swedish mother. His parents emigrated to Canada in 1928.

After finishing primary school, Nurkse attended the Domschule zu Reval in Tallinn, the most prestigious, German-language secondary school in the city, from where he graduated with higher honors in 1926. He continued his education at the law and economics' departments of the University of Tartu in 1926–1928, and then in economics at the University of Edinburgh. He graduated with a first class degree in economics, under professor Frederick Ogilvie, in 1932. He earned a Carnegie Fellowship to study at the University of Vienna from 1932 to 1934.

Nurkse served in the Economic and Financial Organization of the League of Nations from 1934 to 1945, working in the Financial Section and Economic Intelligence Service. He was the financial analyst and was largely responsible for the annual Monetary Review. He was also involved with the publication of The Review of World Trade, World Economic Surveys, and the report of the Delegation on Economic Depressions entitled "The Transition from War to Peace Economy". Nurke authored the 1935 monograph Internationale Kapitalbewegungen on international capital movements. He was influential for his criticism of floating exchange rates, which he argued were at fault for the economic crises of the interwar period. According to Nurkse, floating exchange rates were subject to "cumulative and self-aggravating movements".

In 1945, Nurkse accepted an appointment at Columbia University in New York City. He was a visiting lecturer at the university from 1945 to 1946, was a member of the Institute for Advanced Study in Princeton, New Jersey, from 1946 to 1947, and then returned to Columbia as an associate professor of economics in 1947. In 1949, he was promoted to Full Professor of Economics, a position which he held almost until his death in 1959. Nurkse spent a sabbatical (1954–1955) at the Nuffield College of the University of Oxford, and in 1958–1959, another one studying economic development in the University of Geneva, and lecturing around the world.

In 1958, Ragnar Nurkse accepted a Professorship of Economics and the Director of International Finance Section position at Princeton University. However, before he could fully resume it, when Nurkse returned to Geneva in the spring of 1959, he died suddenly of a heart attack at the age of 51.

For his 100th anniversary on 5 October 2007, the Estonian Postal Service commemorated Nurkse with an international letter stamp. A stone monument with a plaque was also unveiled across the house he was born in Käru. He was also honored earlier in 2007 by the inauguration of a Lecture Series by the Bank of Estonia and an international conference by Tallinn University of Technology's Technology Governance program. An economics professorship at Columbia is named in his honor. In 2013, Tallinn University of Technology named one of its departments in honor of him: The Ragnar Nurkse Department of Innovation and Governance.

Work

Main article: Ragnar Nurkse's Balanced Growth Theory

Nurkse is one of the founding fathers of Classical Development Economics. Together with Rosenstein-Rodan and Mandelbaum, he promoted a 'theory of the big push', emphasized the role of savings and capital formation in economic development, and argued that poor nations remained poor because of a 'vicious circle of poverty'. Among his major works are International Currency Experience: Lessons of the Interwar Period (1944), the foundation of the Bretton Woods Agreement, Conditions of International Monetary Equilibrium (1945), and Problems of Capital Formation in Underdeveloped Countries (1953).

Private life

Ragnar Nurkse married Harriet Berger of Englewood, New Jersey, in 1946, and they had two sons. One of them is the poet Dennis Nurkse.

See also

Notes

  1. 5 October [O.S. 22 September] 1907

References

  1. Kattel, Rainer; Jan Kregel; Erik Reinert (2009). Ragnar Nurkse (1907–2007). Anthem Press. p. 37. ISBN 978-1-84331-786-9. Nurkse's Estonian passport was last extended by the Estonian Consulate General in New York on April 22nd, 1946
  2. Eichengreen, Barry (2018). "Ragnar Nurkse and the international financial architecture". Baltic Journal of Economics. 18 (2): 118–128. doi:10.1080/1406099X.2018.1540186. hdl:10419/267560. ISSN 1406-099X.
  3. Robbins, Lionel (1936). "Review of Internationale Kapitalbewegungen". Economica. 3 (9): 108–109. doi:10.2307/2549185. ISSN 0013-0427.
  4. ^ Eichengreen, Barry (2019). Globalizing Capital: A History of the International Monetary System (3rd ed.). Princeton University Press. pp. 46–48. ISBN 978-0-691-19390-8.
  5. "Deaths: Ragnar Nurkse". The News-Herald. Franklin, PA. May 7, 1959. p. 6. Retrieved February 5, 2023 – via Newspapers.com. Open access icon
  6. "About | TalTech". taltech.ee. Retrieved 2021-07-31.

Bibliography

  • Nurkse, Ragnar. Trade and Development. Rainer Kattel, Jan A. Kregel and Erik S. Reinert, eds. London – New York: Anthem, 2009. (ISBN 1843317877) Collection of all key works by Nurkse.
  • Nurkse, Ragnar (1944). International Currency Experience: Lessons of the Interwar Period. Geneva: League of Nations.
  • Kattel, Rainer, Jan A. Kregel and Erik S. Reinert, eds. Ragnar Nurkse (1907–2007): Classical Development Economics and its Relevance for Today. London – New York: Anthem, 2009. (ISBN 1843317869)
  • Kukk, Kalev (2004). (Re)discovering Ragnar Nurkse. Kroon & Economy No. 1, 2004.

External links

Categories: