Background
Bernholz, Peter Ferdinand was born on February 18, 1929 in Bad Salzuflen, Germany. Arrived in Switzerland, 1971. Son of Heinrich and Johanna (Jansen) Bernholz.
Bernholz, Peter Ferdinand was born on February 18, 1929 in Bad Salzuflen, Germany. Arrived in Switzerland, 1971. Son of Heinrich and Johanna (Jansen) Bernholz.
Master of Arts, Marburg (Germany) University, 1953. Doctor in Economics, Marburg (Germany) University, 1955. Dr (honorary), University Konstanz, 2000.
Assistant Frankfurt and Munich (Germany) University, 1956—1961. Assistant professor Frankfurt (Germany) University, 1962—1966. Professor Technology University, Berlin, 1966, University Basel (Switzerland), 1971—1997.
Guest professor Massachusetts Institute of Technology, 1969, Virginia Polytechnic University, 1974, 78, Stanford (California) University, 1981, University of California at Los Angeles, 1986-1987, Australian National University, 1993, University California, Irvine, 1998. Permanent research associate Center for Study of Public Choice, George Mason University, Fairfax, Virginia.
Rockefeller Fellow, Harvard University, Stanford University, 1963^1. Member, Verein für Sozialpolitik. Member, President European Section, Public Choice Society, 1974-1980, since 1980.
Member, Mont Pelerin Society. Member, Scientific Advisory Board, W. German Economics Ministry, since 1974.
Early interest in intertemporal problems encouraged work on Austrian-capital and on monetary theory. Austrian capital theory was reformulated (later together with M. Faber, W. Reiss and G. Stephan) and the explanations of Bohm-Bawerk and Schumpeter for positive interest integrated. It was proved that the fact of a higher interest than growth rate in neoclassical balanced growth models is caused by superior roundabout production processes.
In public choice theory, imperfect information of voters, economic growth and interest groups were shown to bring about the support of stagnating industries by democratic governments.
Moreover, it was demonstrated that vote-trading benefitting majorities implies the presence of cyclical social preferences with separable individual preferences. The ensuing discussion suggested a similar but more general theorem for all non-oligarchic societies. Additionally, Sen’s ‘Dilemma of a Paretian Liberal’ holds true under the same broad conditions.
This institutional interpretation of Arrow’s theorem was recently followed by the proof that, for any profile of individual preferences and non-oligarchic setting, there exists an assignment of rights to different subsets of society to decide among different pairs of outcomes removing cyclical social preferences and Sen’s dilemma.
Interest in international monetary problems led to an analysis of many countries and periods, demonstrating that systematic deviations of flexible exchange rates from purchasing power parity depend on the direction and durability of relative inflation rates. Purchasing power is re-established only after up to twelve years. This research suggested the study of earlier economists who had already formulated some of the theorems.
Member Macro Economic Policy Group, Brussels, 1988-1990. Member, consultant Council of Advisors of the German Minister of Economics, since 1974. Member European Public Choice Society (president 1974-1980), Mont Pelerin Society (board directors 1992-1998), Bavarian Avad.
European Public Choice Society (president 1974-80)
1974 - 1980
Mont Pelerin Society (board directors 1992-98)
1992 - 1998
Bavarian Avad. Scis.
Married Elisabeth Homann, August 25, 1960. Children: Irina Siegrist, Juliane Bernholz Cavalli.
