Finance:Melchior Palyi

Short description: Hungarian economist (1892–1970)

Melchior Palyi FBA
Born	(1892-03-14)March 14, 1892 Budapest, Hungary, Austria-Hungary
Died	July 28, 1970(1970-07-28) (aged 78) Chicago, Illinois, U.S.
School or tradition	Neoclassical economics

Melchior Palyi (1892 – 1970) was a Hungarian-American economist

Life

Early life

Melchior Palyi was born in Budapest, Hungary on March 14, 1892.({{{1}}}, {{{2}}})

Education

Palyi obtained a masters degree in law from University of Budapest. He received his doctorate in Economics from the University of Munich in 1915.({{{1}}}, {{{2}}})

Career

From 1915 to 1918, Palyi worked for the Austro-Hungarian Bank and the Hungarian Ministry of Agriculture. From 1918 to 1933, he taught at the University of Munich, the University of Göttingen and the University of Kiel. After Max Weber's death in 1920, Palyi and Siegmund Hellmann edited and collected student notes of Weber's last complete lecture series—entitled the General Economic History—into a volume that was published in 1923.({{{1}}}, {{{2}}}) Palyi was a visiting professor at the universities of Oxford, California in Los Angeles, and Chicago between 1926 and 1928.({{{1}}}, {{{2}}}) In 1928, he became an economist at the Deutsche Bank and advised the Reichbank beginning in 1931.({{{1}}}, {{{2}}}) Both positions ended in 1933. Until 1931, Palyi was also a Professor of Finance at the Graduate School of Commerce in Berlin. After the Nazi seizure of power, Palyi emigrated to the United Kingdom and resumed lecturing at Oxford, before returning to the United States and resuming his position as a visiting professor in Chicago between 1933 and 1937. Three years after leaving the University of Chicago, he was a lecturer at Northwestern University. Between 1961 and 1968, Palyi wrote business columns for the Chicago Tribune. He then wrote for the Commercial & Financial Chronicle for the next two years.({{{1}}}, {{{2}}}) Palyi died on July 28, 1970 at Billings Memorial Hospital in Chicago.({{{1}}}, {{{2}}})

Bibliography

• Compulsory Medical Care and the Welfare State
• Managed Money at the Crossroads
• An Inflation Primer
• The Twilight of Gold

See also

• Welfare definition of economics

General and cited sources

• "Dr. Melchior Palyi, Economist, 78, Dies". 31 July 1970. https://www.nytimes.com/1970/07/31/archives/dr-melchior-palyi-economist-78-dies.html. 
• "Guide to the Melchior Palyi Papers 1915–1970". 2009. https://www.lib.uchicago.edu/e/scrc/findingaids/view.php?eadid=ICU.SPCL.PALYI. 
• Kaesler, Dirk (2014) (in de). Max Weber. Preuße, Denker, Muttersohn. Eine Biographie (First ed.). Munich: C. H. Beck. ISBN 978-3-406-66076-4. OCLC 878146290. https://books.google.com/books?id=Pa8kAwAAQBAJ. 
• Samuels, Warren (2005). "Melchior Palyi: Introduction and Biography" (in en). Documents from F. Taylor Ostrander. Research in the History of Economic Thought and Methodology. 23. Bingley: Emerald Publishing. pp. 305–306. doi:10.1016/s0743-4154(05)23108-5. ISBN 978-0-7623-1165-1. OCLC 76065872. 
• Weber, Max (2023). Tribe, Keith. ed (in en). General Economic History. Routledge Classics (First ed.). Abingdon-on-Thames: Routledge. doi:10.4324/9781003411857. ISBN 978-1-003-41185-7. OCLC 1393524164. 
• Zweig, Jason (November 6, 2010). "The Intelligent Investor: Melchior Palyi, the Man Who Called the Financial Crisis—70 Years Early" (in en-US). Wall Street Journal. ISSN 0099-9660. https://www.wsj.com/articles/SB10001424052748704405704575596382345085258.