Diplom-Volkswirt, Dr Rer. Policy, Privatdozent University Cologne 1950, 1952, 1957. Ordentlicher Professor, University Mainz, 1961.
Institute, für Allgemeine und Aussenwirtschaftstheorie, University Mainz, W. Germany, since 1962. Editorial Boards, Jahrbuch für Sozialwissenschaften, Handwörterbuch der Wirtschaftswissenschaften (Vandenhoek & Ruprecht, Mohr, Fisher).
During my studies of economics at the University of Cologne, I was especially interested in business-cycle theory and wrote my master’s thesis (Dipl. Volkswirt) on neo-Austrian business-cycle theory. The thesis for the doctorate also treated problems of business-cycle theory, particularly Hick’s model of cycle and growth.
The renaissance of interest in growth theory — initiated by Domar and Harrod — caused me to write an inaugural dissertation (Habilitationsschrift) about questions of stability during phases of economic growth. The results of this work were published in several articles. At the beginning of the 1960s, my interest shifted to international economic relations. The fast expansion of world trade connected with the increasing convertibility of currencies gave new interest to questions of international economic relations.
This was the incentive to write Theorie der Aussenwirtschaft (Theory of International Trade), now in its eighth edition. First I was interested in the pure theory of international trade but later on I concentrated on the monetary aspects of international relations. This is illustrated by several articles concerned with balance-of-payments and exchange-rate problems.
My preferences for didactics led me to write books and articles in the theory of income and employment which is standard fare at most German universities. Moreover, I wrote Wachstumstheorie (Growth Theory), because I had the impression that the complicated and technical literature on this subject was too difficult for many students. In the following years I worked mainly on questions in applied economic science.
This is exemplified by an article about the German experience of flexible exchange rates since 1973, which I have just finished (see Article No. 10 above).