A tribute to one of the greatest economists of the past century
Robert Mundell (1932—2021) gave economists an invaluable policy toolkit for an open economy
Robert Mundell passed away on 4 April 2021, and the world lost one of the great titans of economics. Widely considered the greatest macro economist of the second half of the last century, in the generation after John Maynard Keynes, Mundell was in rarefied terrain. Indeed, the only other credible contender for this title would be the late Milton Friedman, who was his colleague at the University of Chicago when Mundell taught there during the late 1960s. Mundell was awarded the Nobel Prize in economics in 1999, timed to coincide with the launch of the European common currency. The timing was apposite, as, among many other accomplishments, he is rightly credited as the intellectual godfather of the euro.