Bachelor of Arts Oberlin College, 1948. Master of Arts, Doctor of Philosophy Columbia University, 1949,1952.
Instructor, Texas A&M College,
50. Instructor, Assistant Professor, University Maryland, 1952-1957. Assistant Professor, Association Professor, Professor, Paul Goodloe Mclntire Professor of Economics, University Virginia, since 1957.
Visiting Professor, Southern Methodist University, Texas, 1962, University of California, Los Angeles, Calif., United States of America, 1975, New York University, NYC, New York, USA, 1979, Auburn University, 1983, George Mason University, Virginia, 1983. Ludwig von Mises Distinguished Professor of Economics, Auburn University, Auburn, Al, since 1983. Editorial Boards, Southern Economic Journal, 3, Atlantic Economics J., since 1973.
(1968,money and banking)
I like to think that I have made contributions toward understanding the role of money in balance-of-payments disequilibrium and adjustment and reconciling the elasticities, absorption, and monetary approaches to the topic (especially in Book No. 3. above, and in Article No. 6); grasping the implications for macroeconomic performance of the fact that money serves as the medium of exchange and lacks a market and price of its own (in Article No.5, the coauthored Article, No.
9, and elsewhere); more fully understanding our existing monetary system by comparing it with a radically deregulated system in which money as we now know it, especially government money, no longer existed and in which media of exchange and payments services were provided entirely by private enterprise. Understanding, further, how such a system would eliminate major macroeconomic troubles (Article No. 10, with Greenfield, and more recent work).
And clarifying the nature of capital and interest and showing how their proper conceptualisation dissolves the ‘Cambridge’ paradoxes (eg. Article No. 7). I have long had an interest in the overlap between economics and philosphy — for example, in how egalitarian ideas underlie much policy discussion, and the bases of those ideas, and in what economics can contribute to ethics. In recent years these interests have been occupying a large share of my time.